[thirdsun]

What you're hoping for is already here. I'm sorry since I already praised bandcamp in another comment, however this comes very close to the better way you mentioned. As an artist you have a lot of options today - a label contract is just one of them. Bandcamp, Topspin, CDBaby (are they still around?) or direct website sales are the alternatives. And of course let's not forget smaller independent labels. It is perfectly possible to be successful without a major label these days. If an artist decides to go the traditional route, it is his decision and it wasn't his only option.

I seriously doubt that Dotcom has the artists in mind with this new venture, it is a nice way to advertise the service though and he certainly knows that. Let's see.