Judging by the reaction of some commenters there seems to be a wide perception that this is just some college-level conversation about who's keeping it real. There's a bit of that, admittedly, but there are larger issues at play. The music industry is going through a radical change right now, due to technology changes and other issues, and it isn't quite clear what the next equilibrium outcome will be. The revenue, marketing, and distribution models are all changing and what they will finally evolve into isn't yet set in stone. There's no inevitable outcome, both due to uncertainty about future technological developments, as well as the fact that policy (copyright law and DMCA, net neutrality and other internet policies, etc...) could play an important role.
The internet provides for the incredible possibility for musicians to market and distribute their own stuff, though there are limits to that so I think it's important to encourage, not discourage, any other alternative methods of marketing and revenue generation.
The Future of Music Coalition has a bunch of info on these issues.
