Totally agree Gaz,
Far from destroying music, home studios have provided the freedom to produce a finished product without the politics, greed, whims or vagaries of the big music machine.
If anything, the major label conglomerates themselves and their avaricious execs did more to destroy the music industry than anyone else.
They systematically emasculated and absorbed or eradicated the smaller competition in a calculated and cynical manner.
They won't have the last laugh however -- there is a flourishing of musical minows all over the globe --- its like micro breweries all over again.
Sure, a lot of the stuff being churned out by people is dross, but if you go back to the "golden days" of the 60's, whilst there was some superb and even iconic stuff being made --- there was an awful lot of crap.
On balance I think home studios are a wonderful gift to be much appreciated and cherished.
Now, if we could only have the perfect DAW.