What would happen if the Music "Industry" folded? (Score 2, Interesting)

There seems to be this pervasive attitude of those in the so called "Music Industry" that they are besieged and on the verge of collapse. My question is what's wrong with the Music Industry actually going under and disppearing? I've heard long time "slaves" such as Roger McGuinn (of the Byrds, etc. kiddies) that he gets a fraction of one penny on the sales of his older Columbia recordings. When people like Bronfman talk about the music industry getting squeezed, it's not the artists. The bulk of the artists rarely got much. It's all the middleman in the "Music Industry" that are screaming bloody murder. The industry is top heavy in hanger's on that siphon off the bulk of the profits.

So what if the music industry folds? Does that mean no one will ever sing a song again? Will the world be silenced forever? Will Beethoven, Mozart, et al roll over in their graves because there is no more music industry? I would like for people like Bronfman to explain in very detailed terms what value they bring in the 21st century to the music making process? My guess it is a very marginal addition.

I have over 5,000 cds and a couple thousand Lps. If there was never another CD produced, I still have enough music to last me a lifetime. Additionally, because of advances in computer tech, I can now produce my own music which I do for my own amusement. It may not appeal to anyone else but I get enormous satisfaction from doing it myself. Again, what do I need the music industry for?

I say let the music industry perish. Out of its ashes, a new phoenix will rise that will be a lot more interesting and compelling. Dollars will flow to those that embrace a modern paradigm.