There are only a few full-time high-end bards. I can think of 2 or 3 that are still active. No wait..4...Ginam's playing fairly hard-core 
That said, if all you need is resists or mana regen, you don't *need* that many bards. 1 or 2 on a raid is fine.
But a guild isn't being smart if they don't find a bard for each melee-centric group. Like Zhak said, we seriously up the DPS of the group (moreso for melee groups than caster groups, obviously, even with the relic dmg focus song). Just realize you aren't a DPS class. You do your DPS vicariously, through your teammates. You *extend* the capabilities of your friends.
In short, if you can handle being a good bard, there will be a place for you in the high-end game.
That said, if all you need is resists or mana regen, you don't *need* that many bards. 1 or 2 on a raid is fine.
But a guild isn't being smart if they don't find a bard for each melee-centric group. Like Zhak said, we seriously up the DPS of the group (moreso for melee groups than caster groups, obviously, even with the relic dmg focus song). Just realize you aren't a DPS class. You do your DPS vicariously, through your teammates. You *extend* the capabilities of your friends.
In short, if you can handle being a good bard, there will be a place for you in the high-end game.