Ok, not defending the record and streaming companies but this is nothing new. In the past if you bought an album the artist would see around 1.50$. At an average of 13 tracks on an album you would have to listen to the full album 133 times to equal 3$. That would be close to the band getting 1.50 depending on their contract. This math makes a lot of assumptions about royalties that are varied and complex but I listen to many albums more than that on streaming.
Bands never made tons of money off record sales, there are lots of better ways to support bands you like. Royalties are often paid to the band in merch, so buy a CD or vinyl directly from the band. Same for anything they sell directly at concerts or on their site.
That said I would love to see better shares for the artists, but it’s unlikely going to get better because screwing artists goes back decades.