Can you copyright your voice then? There are laws governing your "likeness" so I guess they would apply?
A cover band has to license the underlying composition, but not the recording they're covering. (This means ASCAP gets royalties, but the RIAA does not.) In the US, there's a compulsory license for compositions, and you can record and distribute any song by paying a relatively modest fee set by law.
This is just automating the cover band industry.
In ten years or less, this will be a common feature in DJ consoles, and we'll hear songs from musician A as if performed by musician B.
The RIAA is really going to hate that.