Taste is often in short supply. In my experience, most people overplay. My favorite musicians would often be referred to as restrained. A great example would be Ed Bickert’s playing on Live at the Garden Party. It’s just him on guitar with a bass accompanying, and nonetheless, he doesn’t really come into the first song for at least two minutes. Instead he just does high range chordal harmony to complement the bass. It’s beautiful playing that you really don’t hear very often.
I recently saw a great discussion of musical restraint and intentional playing on youtube, and it's an excellent illustration of your point. I'm sure that a lot of other people will appreciate it: I finally get Radiohead [0]
I think part of the reason why restraint is so valuable is because of the band context. If you listen to a solo guitar piece or piano piece that you like, it might be really complicated, with a million things going on. If you listen to a guitar or piano accompaniment track from a song you like, you might hear simple triads or intervals, played sparsely or with a simple rhythm.
I find it funny how minimalism is considered a virtue in a band setting. All those New Orleans bands can manage perfectly with everyone just blasting whatever into the air..... :)
