Well, can a major band that is well-known already ditch their record label entirely?

If they did so, and released their own albums digitally (or at least eased out the role of the recording studio), prices could probably drop or the artists themselves could make profit rather than the middlemen.

Also, if more money were going to the artists, people might be more inclined toward paying for music they really like (though probably not because piracy is still awesome.)

Perhaps the expertise of a record label is necessary early on in a band's "life", but can bands not break out of a label when it's in their own (and their fans') interests?