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I would guess a big part of this is because the art _itself_ is a form of compensation: Artists have a passion for the end result in a way that organizations (e.g., corporations, collectives, movements, etc.) harness and take advantage of in lieu of financial compensation.
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This is usually framed in terms of greedy corporations cynically exploiting young workers, but having interviewed for a Sony studio myself a few years ago (and ultimately going back to my native robotics field for almost exactly double the pay), I think there is something tangible about the compensation that is working on something normal people encounter in every day life.

It may not pay the rent or put food on the table, but seeing your name in the credits of a movie your friends watched or a game they played is a perk that has real value. Writing a technical book rarely pays the bills either but it's the same story of getting to see your name on the shelf, maybe it leads to getting on a conference panel or something at some point.

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To a lesser extent the same has been said about Apple's low pay relative to peer (far less profitable) companies -- the mere honor of working at Apple is an implied part of the compensation package.
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