I wonder what this "music mogul" thinks of compulsory licensing and statutory license fees (http://www.soundexchange.com/rates.html) and Harry Fox and the averaged/staticstical licensing model employed by ASCAP and (afaik) BMI, and 1000 other circumstances in which averaged pricing for content is used.

$0.99 per song is an average price, and comprehends both Top 40 and Bottom 100,000. The music industry simply wants to get this average price in addition to a premium on the Top 40 stuff that's already rolled into the average. If they want to re-negotiate the average price, that would be "reasonable" (in music industry terms, anyway), but this is blatant double-dipping.

Jobs is right: they're being greedy.