Flamin said:
Nope. The fact that you can earn a damn good living by becoming a (good) pro these days, automatically increases the overall level. Because of this, many young guys dream of being a pro and they'll do whatever it takes to become one. You can call it simplistic, but it's true.
Firstly, the vast majority of pros don't earn a 'damn good living' at all. The superstars earn more than ever before, but everyone else is on very low wages. On a Conti or even ProConti team? You're lucky to make a living at all, let alone a decent one. Even WT teams' budgets, with one or two obvious exceptions, are startlingly low.
Secondly, the traditional heartlands of cycling - Flanders, Brittany, the Basque Country - were poor regions. Merckx himself, who came from a middle-class family, is something of an exception. Hinault - working on a poor farm from an early age - is far more the rule. Nowadays, thanks to tourism (Brittany), services (Flanders), or EU money (all three), these regions are a hell of a lot richer. Nowhere near as many young riders dream of becoming a pro in the regions which provided the vast majority of the pros in Merckx's or Hinault's day.
(Rather a nice parallel is football. From the 1940s onwards, Scotland provided a huge number of pro footballers, culminating in the famous Lisbon Lions team of '67. Why? Because it was the only way out of poverty in the deprived areas of Glasgow. If you read the reminiscences of players like Matt Busby, they explicitly describe this as their reason for trying to get into football. Now, both Celtic and Scottish football are...a bit weaker. Now the British and Western European leagues are considerably more internationalised. Does this automatically make Messi a better footballer than Cruyff? No.)