I guess it might be best for professional studios but for indy then I think its not a bad idea to do art first or at least not delay it more than needed because if you for whatever reason stop working on the game (can happen in indy right) then you can at least sell some of your art that you made in various shops on the web.
For hobbyists the main reason to wait with recruiting anything really is that skilled <insert whatever you want here> simply do not join an unpaid project unless they can see real progress on it. (If you try to recruit for a project that isn't well underway allready you won't attract the talent you need/want, people who do not know you will judge your project by its progress, not its promises).
Start with what you are good at.