No, I don't think it is a bad thing to do. It can be an enjoyable and rewarding career.
One of the problems, and I suspect it isn't a particularly new problem, is that far too many people take an unrealistic viewpoint on how to embark on certain facets of this career, which undoubtably results in widespread disappointment.
As with many other industries, this is one that has evolved. Those aspirants who recognise the reality and adapt themselves to cope with this evolution are the ones that stand the best chance of success.
Over the last 13 years of reading and contributing to this forum, I never fail to be amazed at the number of people who have wholly erroneous notions of how to achieve just what it is they want to achieve. On the other hand there are a minority of people who are rewarded with success through effort, determination, flexibilty, and being being able to deal with the setbacks.
I suspect in one form or another this has always been the case. You can tell people how to get from A to B, but many simply won't listen if the route is too difficult, expensive, or doesn't fit in with their own preconceived notions. Of course this all assumes they actually understand where "B" or their destination actually is in the first place.
This and other forms of social media bring the subject to a much wider audience than would have been the case 20 years ago. Talent coupled with perseverence and luck, stands as much chance in the evolved industry now as it probably did 20 or 30 years ago. However the new social media and "X-factor" generation provides a gladitorial arena to view the "trainwrecks" who are attracted to the entertainment of having a virtual stage to perform on.