This is an excellent article, and I largely concur with your sentiments.

My own experience so far is this: I've made more with self-publishing than I did when I was signed by a small US indie publisher (for three of my gothic mystery novels - rights have now reverted to me). I am still trying to get a mainstream publisher, but I'm not holding my breath, and am self-publishing novels turned down on that front (I've had three agents and three near misses).

In the meantime, I'm keeping at it, exactly as you advise.