Trent Reznor on the Music Industry

From an interview with Trent Reznor:

"[I] have one record left that I owe a major label, then I will never be seen in a situation like this again. If I could do what I want right now, I would put out my next album, you could download it from my site at as high a bit-rate as you want, pay $4 through PayPal. Come see the show and buy a T-shirt if you like it. I would put out a nicely packaged merchandise piece, if you want to own a physical thing."

When will the music industry learn that its business model is obsolete? And, a related problem, when will they become more ethical all-around?