Isn't the classic example of this something like NYC's Hells Kitchen or East Village or Meatpacking District that was, at some point, the cheap neighborhood that artists and musicians could live in on their irregular low salaries, but then when some of them inevitably get famous, that mystique turns it from the bad/cheap part of town into the hip part of town that rich people go to for underground clubs and wild art shows, and in 10 years none of those people that made the area cool still live there because it's now the most expensive place in the city.

I think city marketers see "artist" in the same way that a nightclub sees women, but with less power or follow through on giving them anything free that would attract or keep them there to attract the other people.

Everyone wants to live in a city with good live music _and_ listen to Spotify all day in their 1k/month apartment.