mstudio's a good example,
of someone who's done alright in the music/recording biz.
I don't think anyone's implying a recording career is not feasible, it is feasible. If you take a well rounded approach, and build a broad foundation of knowledge [of anything], you'll be more likely to succeed. mstudio is a good example of that, I'm sure.
The Entertainment Industry is now a perpetual motion machine. It was going on before we got here, and it will be going on after we're gone. In a way, it's larger than all of us. The Entertainment Industry will keep burning & churning, and it will always need new talent and fresh blood. That's true. It's an industry that touches all of our lives, is massive, and yet, it's still a 'niche' market, if you know what I mean.
For every person like mstudio, I'm sure there' at least 10 wanna be's, who might have big dreams, etc, but are barely surviving.
I have a friend, who's younger, and he's an incredibly talented guitarist. He's really incredibly talented, and yet, he's struggling. His talent might "pop" onto the national or world scene someday, but despite his awesome talent, the odds are still against him.
I have another friend, who's a very great drummer, but he's nowhere. He's an example of a guy who said, "no man, I don't want a job, I just want to play my drums". He never made anything of himself, never did anything, never got a straight job, had kids, couldn't support them, was on all sorts of ADC & welfare,... in short, his life was a mess. Now he's on the street, or worse. He's a disaster, but man, he's a great drummer!
There are many more examples I could give, but just drive through Hollywood, and there are many street people and hustlers, who came to Hollywood to "make it".
I lived in Downtown LA, a place profuse with the stench of urine, and the litter of street people, of hopeless souls. Many of them are very talented, you'd be surprised. None of them ever 'got it together' or 'got a break', though.
In my opinion, mstudio says some wise things, and he's an example of someone who's made it, his way. Use his advise & example, and you'll do well.
Unfortunately, for every '
mstudio', there may be 10-100 'nowhere people', if not more.

People with talent, great songs, whatever, but who never really "put it all together", [like mstudio did].
The Recording/Entertainment Industry is a many faceted business, and if you're talented, ambitious, and can stay on top of the many 'games', facets of the business, then you'll do ok. I'm sure it could turn out to be an exciting and rewarding career.
On the other hand, there's nothing wrong with pure home recording, in one's spare time, etc. Part time home recording, or full time home recording, or even manic home recording can be quite fulfilling & rewarding, too, as art for art's sake.
Both ways of approaching music & recording can be good.
We all are individuals, with individual ideas and talents, and we all make our dreams come true, not by dreaming endlessly, but by doing something tangible, something active, something creative.
After all, those songs just don't hop out of your head, right onto the tape, by themselves, do they? We have to make it happen, we have to do it by taking action.
Music, recording, etc, breaks out over a wide spectrum, and we all have to find our own niche. Top talent is a niche, successful studios are a niche, and home recording is a niche. Every career or trade is a niche, so it's pretty wide open, to follow your own dreams.
I agree with a previous member, don't sacrifice everything for pure practicality alone, and then wind up 20 years later doing something you hate... It's hard to project ourselves 20 years ahead, to really know for sure, but you have to choose your decisions wisely, as wisely as possible.
I have a non recording career, normal life, etc, and I'm a lifelong home recording & music enthusiast. I've been doing the same job for 19 years. I may be a little bored with what I do, but I don't hate my job. I like it, it's ok. I'm good at what I do, and I'm professional.
But hey, the worst day of music & home recording is better than the best day at work, isn't it?! Haha. There is a balance to be found.
Every day, we have individual choices about what to do, and how to fill our time. What we do every day, every moment, determines what kind of future we'll have. Everyone has their individual choices to make, and in a way, "their own destiny to fulfill". It's a cliche, but it's also true.
Good luck & keep playing & recording.