... then the Orchestra goes belly-up. Many Orchestra's exist of contractors already these days and they get payed per activity.
We live in a society where labour is very expensive and therefore the Orchestra is simply an extreme luxury item.
But from a mucisians perspective: In my world - I'm an educated, professionally skilled, but only parttime organist there are three pillars you need to develop in order to get a good salary. The first is a mostly parttime employment. Think being violinist in an orchestra, conductor of a choir(s), or in my case organist in a church. The second is being teacher. The third are the occasional things like individual concerts, giving workshops etc ...
If one of these three pillars is not developed well, the musician is likely to struggle on finance. The exception are brilliant musicians of course. They can rely entirely on concerts or so. The majority is unfortunatly not exceptional ...
Another unfortunate thing is that many musicians are not so good teachers. When I studied, I took the lessons to get my didactics certificate, but what it brought me is that I understand that being a good teacher is a very respectful competence which should not be assumed lightly. Obviously, I did not become a teacher just because of the job. When I sometimes join my kids on their music lessons, I still enjoy the competence of my eldest son's piano teacher. It's magic to see a teacher encouraging and helping a kid on doing something very difficult.
Dancers have even more financial problems ...