You don’t want older folks to generate reams of good art for consumption. Let the youngsters who need to make money do that. And many artistically-oriented youngsters do create art in their off hours from work, at least out here. I don’t think they think of it as “production” though. Why does a bird sing?
What retirees often do, rather, is develop an artist’s eye for images, a musician’s ear for sounds, a philosopher’s perspective, a writer’s voice, etc.. This often involve a broader exposure/consumption of arts and studying art history. Sometimes producing actual art as well…but less for the final artistic product but instead to engage in the artistic process itself so as to develop that way of seeing/feeling/being an artist has. When the work-related chunk of the mind is wholly freed up for other pursuits, there is often such a bit-flip. And since it is a deepening appreciation and greater consumption, there is no risk of overproduction of art and the soul devolution that arises from hyper competitiveness in the marketplace.