He's right in that art consumption is an attention based economy. 0.5% would not surprise me. I think his conclusion is wrong though. He seems to question the need for a strike in the economic environment he described, but that environment is exactly why organized labor is important. Unions can make trying to pursue creative work professionally slightly more bearable.
If you're including every amateur unpaid artist, then sure maybe 0.5%.
BUT if you're talking about paid professional TV and film production (the context of SAG-AFTRA), probably something like 95% of content that is written, shot and edited into a final product makes it to audiences. After all, that stuff is expensive.
By the hour, most of that content is TV shows. Most of the unseen ~5% is produced pilot episodes that didn't get picked up for a full season. And a small amount will be films that halted production midway, or turned out to be so bad they weren't released.