Kevin Kelly is a better manifesto writer than an economist.
He is expecting that a true fan "will purchase anything and everything you produce. They will drive 200 miles to see you sing. They will buy the super deluxe re-issued hi-res box set of your stuff even though they have the low-res version. They have a Google Alert set for your name. They bookmark the eBay page where your out-of-print editions show up. They come to your openings. They have you sign their copies. They buy the t-shirt, and the mug, and the hat. They can't wait till you issue your next work. They are true fans."
Later he posits that the true fan will spend 1/365 of their income exclusively on you (presumably not including the travel costs of driving 200 miles to your concert), nor does he account for how buying out-of-print copies of your material on eBay provides you with income ... unless you're selling it rather than other eBay sellers.
In his estimation, all costs and expenses you incur are modest, you will make a huge chunk of $100 off of each of those thousand fans ... well, if you're a solo artist and you personally nurture your True Fans.
okay ... so maybe it is possible, but he hand waves so much that it feels like he's not operating in the real world.
Reminds me of the Kids in the Hall's Money Momentum skit:
Basically he posits that if you have 1,000 fans that buy everything you produce, you can make a living.