I think the best musicians I've heard over the years would probably be Spyro Gyra or Mike Stern. I've seen Spyro Gyra four or five times. They all looked like they were sitting in a board meeting at some corporate headquarters (nothing I would ever wear, either). Pretty boring attire as you high-style guys would assess. No Michael Jackson thriller costumes, leopard skin, or cartwheels across the stage with flaming 7-inch platform shoes. But then I never went to see them for a fashion show. It was 100% about the music.
And Mike Stern? Well... I didn't even notice what he was wearing. I was mesmerized by his tele (copy). But I'm pretty sure he was dressed kind of like Kurt Cobain used to dress. Just like people you would see a hundred times each day.
I think my heroes for stage attire would be these guys on this particular day:
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.... and this is about the way I've always dressed onstage (particularly, Meisner is the Fashion Maven here). In fact, I think I actually had that same John Deere shirt at one time about forty years ago. And, of course, I've worn out about 10 Eagles tees onstage over the years. For me... this is about the only fashion I care to mimic. Well, maybe Henley is overdoing it a bit in this photo. Sadly, I can't do the long hair thing anymore though... I have very little left to grow.

But I can still do the tee... and I don't even have a pot gut--pretty good for someone my age.