We're talking around the same thing.
Right, and now anyone can put up a performance and see what kind of scraps get thrown their way. You get the audience you deserve.
On the one hand, if anyone with enough stubbornness and a bit of sales can guilloche their way to $20+k watches like your buddy, you shouldn't have much to worry about. On the other hand, with so many rich incumbents, fragmented audiences, and disparate mediums to perform your story, it might be harder to claim your territory than before.
I'm inclined to the former instead of the latter, but it must not be an easy thing to gauge.