I agree, I think the real money for songwriters has left the building. If you are a performing songwriter, and able to pitch your own music. You have a chance. If you are not, you still have to have an "In" and they are getting fewer and farther between.
Yes, there are lots of us amateurs out there. And even if we put in the time and effort to do it right, the chance of us ever getting an "In" are astronomical.And when one of us does, it is "An overnight success" because no one ever heard of us, even if we have been doing it for many years. Personally I don't much care anymore. I would love to get some of my songs out there but I will never regret the money I spent making demos.