Brad, check out this book: https://www.amazon.com/Cult-Amateur-MySpace-user-generated-destroying/dp/0385520816/ref=sr_1_1?ie=UTF8&qid=1492178564&sr=8-1&keywords=the+cult+of+the+amateur
It's nine years old already, but it still applies.
I have not read the book, so I shouldn't offer too much commentary, but-- the title and the premise it implies, with all its doom-and-gloom, makes me wonder whether the author may be (along with most of us) trying to fit emerging models of work into old economic paradigms.
Specifically, trying to fit the "perfect machine" of digital content-- which is profoundly anti-capitalist in its nature (it subverts the "supply-and-demand" model of assigning value)-- into the system of market capitalism. It just doesn't work very elegantly, and we're all beginning to learn this the hard way.
It's feeling more-and-more self-evident that old systems where value is tied to scarcity are breaking down in a digital economy (and will continue to break down, now that we have the technology to 3D print, among other things, HOUSES, literally overnight).
The more interesting question, to me, is "what comes next?" What will "post-capitalism" look like? It's easy sometimes to forget that the system of money and trade which is all we've ever known didn't exist forever. And it probably won't be the last way humans deal with cooperation and pooled labor. Capitalism is, most of all, a strategy for cooperating-- trading time, labor, ingenuity, resources, etc. with other humans. But it's based entirely on scarcity. When something becomes un-scarce, look what happens-- we, who saw the music industry transition from scarcity (records) to abundance (digital files), know this better than anyone.
"User-generated content" is just another way of saying "open source," really. And this CAN be good-- look how handy Wikipedia is, or how much I can learn about electroniucs from the Mr. Carlson's Lab YouTube channel, or even how good Reaper is relative to cost, or even how much I've learned from reading and posting on this very forum, chock FULL of "user-generated content."
In other words, yes, in a way, user-generated content is "destroying our economy." But history might prove that that's a little bit like saying "minting of coins in England destryoed the feudal system."
When the world changes, it usually changes in a way that "old thinking" has a hard time imagining.