[6stringmerc]

Yes, that's generally my outlook on the business aspect of the music industry. There are of course needed staff professionals - PR, Legal, Booking - but if those can be hired and managed with some good accounting by an artist/management team (and not behind a label's closed doors, subject to contract obligations) then it stands to reason more revenue will be retained by the principal.

Practically speaking, I think it's the musicians who "ask" someone else to take care of that stuff that get screwed. This is more like the "Pop Star Contract" take-it-or-leave-it kind of approach. Sure, the label can make a person a star, but that comes with some significant catches (see: rappers angry their label won't release their new album).