The problem today is that anyone with a laptop can create music and distribute it at no cost.
Given the current state of the music industry, that's actually a blessing, in the current paradoxical scenario, young artists gets no venues for gigs, while aging artists, given the collapsing revenues from their albums are literally forced to tour, you can be in Vegas and see Yes and Toto on the same night and at the same venue and I don't know whether to be elated or saddened by it. Having a way and medium to create and distribute their own music, away from records companies, it's actually vital for upcoming artists, if then you are implying that music created in this way is worthless, I would have to disagree, artists like Plini or Polyphia built their careers on Instagram and Youtube, recording at home and boy, can they play. In Peter's case, I don't think age per se is the problem, he probably simply lost interest, when it takes you decades to release an album, that's quite the clear symptom. To me his last, truly great album was US and that was when, mid--90s? After that he got probably distracted by other things.