The criteria sort of pushes you towards mediocre 90's bands. I mean 1980 was 40 years ago. Anyone who had a hit song then is at retirement age and only playing because they like it.
The best musician I can think of that fits the criteria is Joe Satriani. But do people consider him relevent? Meh. He's definitely still touring. Also sort of cheating since he is a solo act.
Other bands/musicians that I came up with are Meatloaf, Steve Vai, Beck, and They Might be Giants. Honestly I 'd drop some cash to play an Istanbul multiball.