I have many thoughts on this matter, so this will be a long one. If you're willing to read it and consider it for the bounty, I'd be very grateful. But this will be a wall of text for which I apologize in advance. In any case, this gives me a chance to put some of my thoughts on Spotify into words. Great bounty idea!
The money
I listen to a good mix of music superstars and underground/indie artists. Especially the smaller artists who have been around long enough to experience the transition from physical media to a mix of physical and digital will almost all tell you that music streaming has made things more problematic and difficult to be a music artist.
Streamed music is so easy to access, that less people bother to actually get a physical CD of an album they like. I see countless artists who say that streams pay so little, that their main focus is trying to sell merchandise or touring in order to sell merch which actually pays the bills. Some of them have Patreon accounts but that means they have to put in even more work to make a monthly subscription attractive.
The money situation has become so bad, that a new bill has been introduced not too long ago - the Living Wage for Musicians Act. Passing this bill would mean artists would receive 1 Cent per stream, which would essentially at least double the money they receive for putting out the music you and I enjoy. I, personally, would like this to go through, but you can bet that companies who run streaming platforms will use it as an excuse to raise their prices again. Even though Spotify has, as of this month, demonetized every track on Spotify that does not reach 1,000 plays within a year. This impacts 86% of tracks on the platform!! Let that sink in for a moment.
To remedy this, I try to buy merch occasionally, but being in the EU and being someone who very often listens to US artists, shipping merchandise is something I have to very carefully consider. At least it's not so bad for CDs - though weirdly enough, not all of them can be shipped from America to the EU.
The app
One day, I looked up which streaming service pays artists the most. To my surprise, at the time it was Tidal - maybe it still is. So I went and tried a few different music streaming apps, to see if I can get away from Spotify. Unfortunately, Spotify simply has the best app. There is no question. No other app comes close - some of them are even missing basic features like crossfade, which makes it so your music fades in and out when you hit pause/play and doesn't assault your ears with 100% of the volume your last song was at. Two weeks into my Tidal test run, Tidal didn't even have personalized mixes ready for me. I've given a few others a try as well and I'm not someone who bashes things if my alternative is to just move on, but every other music streaming app is trash. Actually trash, I hate to say it. This is why it'll be impossible for me to move away from Spotify.
My only real problem with Spotify is licensing. Not all songs I want to listen to are available on Spotify. When I want to listen to these specific songs, I have to play my local files that I ripped from my CDs to my PC or play via YouTube Music (which doesn't have an app). This I can only do when I'm at home, of course, so that's immediately less convenient for me.
The mood
I have seen a few comments regarding listening habits, rituals, and general appreciation of music and music artists that I strongly disagree with. These are things that only affect YOU. You can decide how you listen. You can decide to buy CDs and put them up for display even though you're paying for music streams. You can decide not to care what people think of your music tastes. This has nothing to do with Spotify, Amazon Music, or any other services. The way you listened to CDs back in the day can still be the same way you listen to music streams today. If you put yourself in the right mood, it doesn't matter if the music comes from a CD player, a Walkman, or the Spotify app on your phone.
The bottom line
The bottom line is, I like Spotify. But the artists I listen to probably hate that they have to deal with it. So support your artists, buy CDs, buy vinyls, buy merchandise, check out Bandcamp Fridays!! If you think a few plays on Spotify will pay their rent, they might not be making music for much longer. Unless you help them out a bit.