"when I was a kid in the 1960's - you had to be very rich to afford a decent instrument"

I think that depends on your interpretation of "rich" and "decent instrument". High quality instruments have always been expensive, but cheap guitars and violins were widely available, and many weren't bad. If you were lucky you could still find high quality concertinas in junk shops, an impossible dream now. I once met someone who had picked up a beautiful Jeffries concertina in a junk shop for ten bob (50p) - you'll be lucky to get one much under £5,000 now.

Of course for some any instrument would be unaffordable but I would say that most working people would be able to save enough for an acceptable instrument, without needing to be rich.