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Adding on to this, I'll say the term is likely used less now because, for the reasons you mentioned, the common person actually aspires to get famous for the specific purpose of selling out and making a big payday to escape the hellscape of everyday wage-slavery.
But then there are also "sell outs" that are totally situational. For example, a content creator (who I won't name because that's not the point) who's an OG that's been around for over 20 years now, constantly putting out content, never had sponsors until a few years ago. Initially I was annoyed at suddenly seeing "Sponsored by NordVPN!" and "Sponsored by RAID Shadow Legends!" in every video, but then I learned he'd had a child with his wife. And his child had a bad birth defect that required a lot of expensive surgeries.
After that, I was like, "Get that paycheck, my guy." It's hard out there.