Compounding the inability of the United Nations to administratively and conceptually deal with New Wars, the UN lacks any sort of hard military power necessary for peacekeeping operations. Many states simply refuse to contribute military power to the UN missions out of a general distrust to the UN and NGO’s in general. It has been noted that UN peacekeepers “are traditionally too lightly armed to outfight the combined forces of every regional warring faction in the mission area. Consequently, they exercise no real coercive or punitive power” . The top contributors to UN Peacekeeping missions are in fact Bangladesh (10,736 personnel), Pakistan (10,691), India (8,935), Nigeria (5,709) and Egypt (5,458) . This is an interesting situation, because the top military contributors to the UN are states that are very rarely known for their military prowess.....
Your judgement is very harsh. The UN peacekeeping missions are that peacekeeping and 'hard military power' is not a requirement. If the mission is peace enforcement then the military needs are different, which can explain why some missions fail when the mission changes and rightly you cite Rwanda as an example.

In some places peacekeeping missions have been had 'hard military' components alongside the traditional blue berets, the UN mission in Eastern Slavonia was one. There the Jordanians provided a mechanised infantry battalion; less certainly in Cambodia IIRC India provided a QRF.

Other missions, notably Southern Lebanon began as a traditional blue beret ceasefire monitoring body, as the conflict developed - with every faction and Israel involved - the UN became harder by appearance, with marginal impact on its mission. Remember the Fijian compound shelled by the IDF?

The nations you cite Bangladesh, Pakistan, India, Nigeria and Egypt are contributors who volunteer, unlike many nations that are:
known for their military prowess'
In what I have read both Pakistan and India are very capable, respected armies, who have for over forty years paid a price for their commitment. Nigeria has a different reputation, mainly due to its non-UN peacekeeping and peace enforcement in West Africa. Nor should the Egyptian infantry battalion in Sarajevo be overlooked, IIRC the only Arab or Muslim country to contribute in the early years of the Bosnian War (alongside the French & Canadians).

As for:
The second suggestion is that with such a meager compensation from the UN, more wealthy countries will be unwilling to contribute professional soldiers to peacekeeping operations.
UN payments to wealthier countries is not a factor in their decision-making. Far more pertinent factors are involved, force protection, likelihood of casualties, length of engagement, command structures, the mission itself and the ROE. Look at the composition of the UN in Cyprus, there the length of the commitment has simply bored contributors; it now has a Chinese commander.

Some wealthy countries have ended up with simply bizarre UN deployments. To cite two, Argentina in Cyprus and Ireland in Chad.

My only caveat now. I have not closely watched UN missions for many years so my points do not account for places like the DRC.