I'm not exactly sure what you are referring to as "Music 2.0" (possibly the likes of pandora and last.fm?) but I do agree that the investment function of record labels is often over looked. As someone heavily involved with researching the industry, as well as helping local bands, I am constantly amazed with the parallels between entrepreneurism and being a musician.

There needs to be the musical equivalent of the lean startup theory. Just as swarms of young entrepreneurs are embracing the bootstrap, so should bands. Yes the labels could probably tell you where to get your Fender repaired, but so can Google. All functions of the traditional record company are becoming obsolete in comparison to digital methods. I envision an industry where musicians retain artistic freedom and everyone actually gets paid (check out Steve Albini's classic rant on how most artists don't make much of anything www.negativland.com/albini.html)