This sounds like another AI-generated recording. The facts are more or less accurate. I assume the intent is to produce emotionally charged, contentious content used as clickbait.

The list of black and brown artists that have been taken advantage of by industry is very long.

The lack of education, lack of access to quality legal representation, and many other factors contribute to the problem.

In all too many cases, the answer from the artist is to turn all this pain off with drugs until they die.
I have personally known and been good friends with three black musicians who have died of drug addiction caused in part by the legal treatment they received.

There have been a few black musicians I have known who have immigrated to Europe and have at least partially escaped the racism that is so prevalent in the United States. Not that the United States has a patent on racism, as it exists in many forms worldwide.

Things are definitely better today. Many people and organizations are willing to help artists who can not afford legal representation and to take people from the past to court. The University of Southern California comes to mind. You can read about it here. USC Gould School of Law’s Entertainment Law Publication.

I did not know Jimi Hendrix personally. I knew Guitar Shorty, AKA David William Kearney. He told many stories about Jimi Hendrix, whom he knew well. Houston, Texas, seemed to be a crossroads for blues musicians. Speaking of Houston, Sam Lightnin' Hopkins was another black musician who had been seriously taken advantage of by the music industry.

There are many connections between music, Hendrix, and Houston, Texas. Billy Gibbons, of ZZ Top fame, opened for Hendrix in 1968. Billy used to hang out at Rockin Robin guitar shop in Houston, and I got to know him there. Rockin Robin Guitar Shop was a place that many musicians came to, lots of stories.

Billy

“Amazing! I’ll be working with Jaco Pastorius, Charlie Parker, Art Tatum, and Buddy Rich, and you’re telling me it’s not that great of a gig?
“Well…” Saint Peter, hesitated, “God’s got this girlfriend who thinks she can sing…”