To be fair, the current 'DIY, shop it around' approach isn't entirely new / revolutionary. In 1968, Jimmy Page and Peter Grant put up about £2,500 of their own cash to record the first Zep album while touring the outfit as 'The New Yardbirds'.
Grant used the tapes to close a five album, £200,000 deal with Atlantic at a previously unheard of royalty rate, while retaining complete artistic control, including album covers and marketing approval. That would be about £25k and £2,056,000 today.
Either way, the old adage holds true. Find out what people want then sell it to them on [i]your[/i] terms. Long live the independent approach