But it is also that the pool of potential artists has broadened. Not only is the field attracting too many young souls, but with the advent of digital media artists from all over the world can compete for any job.
Of course, this isn't universally true. However the exceptions are few and far between compared to the pool of artists out there.
As you said, the market is too narrow and cannot fit them all.
I don't mean to be pessimistic, but rather I'm pointing out a very real problem that most every up and coming commercial artist will face. And each one will have to ask themselves the question that Chris Bennett posed:
My friend, well he's decided to pack for Malaysia so he can compete.