As an aside I watched a tribute band called Bon Giovi about 18 months ago.
They were really good, and definitely not £60 a ticket worse (Bon Jovi was playing locally a few months later for £75+ a ticket), so we spent £60 on a meal, kept the the other £60 and had another night out without the kids a week later.
If you can do good versions of the songs and there’s a market for it, go for it.
I have a mate who’s in a “Madchester” act, they cover all Manc indie stuff and then also take bookings as a Stone Roses tribute, an Oasis tribute and a Smiths tribute - they gig non stop and always play to rammed venues.