Might be fun. This would be similar to what recording industry did on P2P sites. At first it was easy to get what you were looking for. Then it got saturated with garbage.
Edit: Found a copy of the audio: https://www.youtube.com/watch?v=XU5xC00m-gA
This worked best on mainstream P2P clients like Limewire, Kazaa, Ares (all based on Gnutella I think), because the fake MP3s would propagate more widely.
It didn't work as well (or at all), on relatively obscure, community-based networks like Slsk, where people were more likely to share entire albums, and not just the singles.
I don't know if I ran into that issue, but I wasn't really downloading a lot of mainstream stuff compared to him either.