I’d bet that is not true. I grew up with Napster, Kazaa, Soulseek, Limewire and friends and they allowed me to find so many fantastic musicians and helped start to shape my tastes in music. When I was older and had a job, I supported many of these musicians by buying their albums (and much less frequently, going to one of their concerts).
The thing about art, IMO, is that it does a great service for humanity in giving us hope, purpose, and something to live for. When you treat artists as a cost to just minimize, you make it harder for any of them to succeed at making a living doing their work. I believe that the effects of the very low streaming royalty payments will have a chilling effect on professional musicians making a real go of it.
I'm not sure it works out that way in practice. I use YouTube Music primarily, and I used to buy music from Google Play on occasion, but since they've gone all in on streaming, I can't even purchase lossless audio from them anymore.
Just sad that they are the prime distributor of music to almost everyone I know and not services like Bandcamp.