I mean, yes, it’s a massive exaggeration. Weird Al makes a lot more than twelve bucks a month on Spotify. But, from what I’ve heard, a lot more people than you think only make twelve bucks a month on Spotify.
Speaking as a self-published author: I’m not all that fond of the streaming revenue model. I don’t complain about Kindle Unlimited’s rates not because I love them, but because I have no practical alternative. Less than half a cent per page, folks – and that’s apparently a high rate in the streaming business. If you want to really support a band, buy their songs outright — or, even better, buy the songs, and some merch. The merch is life.