No offense taken.
FWIW, I play over 100 gigs a year, and my tax income on music alone is around $12,000. All performances. I have a day job not in music, and I don’t teach. And that’s the gigs the gov knows about.

I have a Bachelors degree in Jazz Studies (and cant really stand many jazzers. Again, ego without worth). I don’t play for less than $100/player at a bar, and I don’t play in hack bands. I think $100 is fair, considering people flip burgers for 8 hours for $80 less taxes. So not sure if you were talking abouy me as a Sunday player, and I don’t care if you were, but I’m not one of them. Unless you think $100 isn’t much in which case you might want to consider a new career and/or your perceived self-worth. It may be inflated.
But I don’t think hack bands are cutting into anyone’s professional profit. I find that statement ridiculous. Hack bands don’t run good sound, or have lights, or remember lyrics, or have pretty female singers. Professional bands get professional gigs, and they are available. Hack bands get hack gigs, and they are also available. In my area anyway.
I’m not sure about the capitalism comment. I didn’t say anything about capitalism. Maybe someone else? And that probably is somewhat silly.
But, Economics! Now we’re talking. And the simple fact is, there’s more money in being a doctor because the market demands it. Not cause doctors “won’t work for less”. Because people need doctors to stop hurting. And that pain is a big driver in their monetary worth. Musicians only provide entertainment, without negative result, if removed from society. Their value is much less, reflecting their lesser need in society and lesser paychecks overall.
But society in the US doesn’t train anyone to do a task. They just reimburse those with knowledge with money, incentivizing more people to gain said knowledge. People go to school to be doctors, cause they like helping people, and they get a good paycheck when they leave school. They also get a ton of debt but the paycheck outweighs those initial costs clearly. And their high debt level is also economics. People will pay more for the knowledge to get a high 6 figure salary in the future.
Shoot, even “hack” bar bands are economics. Bars are paying less these days, probably because the economy isn’t booming and the bar business is cutthroat. So they can only afford $400 for entertainment. Professional bands won’t play it, these hack bands will, so they get the gig.
So what comes first? Bars can only afford $400 for entertainment, and professionals won’t do it so they hire less than professional bands? Or hack bands infiltrate a bar paying $800, undercut the existing bands, and drive down the cost to $400?
If you believe it’s the latter, I disagree.