Marketing conditions destroyed prog rock as djs could no longer play an entire album side or twenty minutes of a Clapton solo. Protest folk music died a simular death. It basically went to hell due to the reasons you specified. In some ways the 60s music was too much of a good thing as corporations woke up to the fact that there was major profits to me made.
I do believe that LSD was a catalyst for a lot of songs that emerged from the sixties and seventies. (I don't believe that drugs make you more creative than you actually are)
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