There is a long tail and consumers get a lot of value from that long tail. But I don't wholly disagree that--in addition to the creators in the long tail not making much--the aggregators can make relatively little from it either compared to the blockbusters on the left hand side of the curve.

So I think the observation that a long tail exists was absolutely correct but the claim of financial value from it is a mixed bag. (Anderson was also largely incorrect in his claims about the end of theory. https://www.wired.com/2008/06/pb-theory/ )