I wonder if magicians could do the same. Seems like they could.

The live performers with a rep can cover a lot of production cost by selling tickets, then the video income can be mostly gravy.

They do solo projects, but I don't think that's analogous. Would Radiohead have been allowed to self-release albums while they were under their major label contract?

I'm curious as to why you hold that opinion. It contradicts most things I've witnessed about either artform.

Because I've been a part of independent recording sessions with bands who released albums using their own meager funds. It doesn't have to take much money to record and produce a decent-sounding album anymore.

I don't think anyone is debating that music can be recorded cheaply, the point is about standup being easier to produce (from a technical perspective), and unless you're thinking of a solo acapella singer, music requires a lot more production value, even just to get something sounding "decent".

Sure, the two can be comparable if you're recording a solo accapella

'not much' for a 'decent' sounding album