The fact that you can buy a gig-able (setup and new strings and you're good to go) instrument off the rack for $300 is mind-boggling.
Yes, the cost of playable, reasonably good sounding instruments is one of the major improvements to my way of thinking. I remember the first bass I bought in 1971, it cost me almost $300 and was a piece of absolute dog doo. At the time the minimum wage here in Australia was $76 per week. Now a Squier affinity costs around $450 and the minimum weekly wage is $773. A Squier Affinity is several hundred times better than my first bass was back in 1971.
That might not effect those of us who are older, have more disposable income etcetera, we can obsess over the weight of tuners, or which active pre amp to install, but for young players starting out, the cost and range of playable well made instruments, amplifiers and everything to do with playing music is just great.