Yep....recording budgets have gone way down which also reduces the bands debt to labels if they are given an advance to pay for the recordings, but yet the labels haven't increased the royalty % rates for bands from which these costs are recouped. Less risk exposure for a label should have some benefit to the artist but it simply doesn't happen.
Then again, a lot of artists who aren't selling in the millions but yet at a moderate level actually see "little" of the cash that's owed to them by labels anyway. A lot of bands have simply given up trying to get anything out of an album financially and are just focused on touring and merch for an income.
The only way I can see of making $$$ out of an album is to absorb the costs yourselves and go with the press & merch (with a label who actually pays their bands), or DIY.