Jacob Ganz and Frannie Kelley said Coulton was lucky, but his model was not repeatable. Their argument: Labels make artists. They take over all the backend stuff - marketing, booking, advertising, getting you on the radio, and on and on. The poster-child: Biebber. Coulton, working online, can't become Biebber.
Just listen to the podcast. It's 25 minutes of hipster music lovers defending labels that churn through, eat up, and spit out the indie-esque bands that NPR loves to feature in their tiny desk concerts. (Also recommended) Seriously?!
And to make you feel better, perhaps the best kinetic typography on the internet: