Earlier quoted context omitted.
For "lyric sites" read "ad sites that use lyrics to attract an audience". That's where we are today.
People want lyrics. They don't want to pay for them, but they want someone to make the lyrics available for them, for free, on the Internet, forever. And they feel they are entitled to this without ads for some reason. That's where we are today.
If I loved King Crimson, I might create a site expressing that love and also host lyrics to their songs. Not to generate ad revenue. Not with any expectation of being reimbursed for hosting costs. I did it because it was fun and because sharing knowledge felt like the point.
I would actually flip your statement around. Today, many people feel entitled to be paid for sharing things on the Internet. In that sense, they are the newcomers. The original ethos was about sharing information simply because it mattered to someone else, and a few of us still believe that value has not gone away.