The damage has been done. The major labels (major now only in terms of increasingly dubious marketing clout) now spend most of their 'creative' energy scouting do-it-yourself musicians rather than producing great music...which was, initially, what distinguished them from the little guys.

This leveling of the playing field was supposed to be a great thing for everyone except the majors.

But as a listener, I bemoan that the output quality of the majors has dropped so much (especially in classical music). In order to get access to first class, interesting music, it is becoming increasingly necessary to do tons of research.

The bigger picture is this: would you invest in a business that celebrated not losing revenue for the first time in over a decade? I wouldn't.

Edit: thank you, pgsandstrom