I was worried mentioning his name would take this thread off-topic and become all about Kayne. I'm neither an expert on GOOD Records's past nor seek to defend him in general. These arguments applies generally to the industry as a whole and are hardly limited to just to Kanye himself.
The way I came across his statements on the matter was that it was a sort of recent revelation he had. And that it's a thing thats out in the wide open, people have been talking about it for a long time, but it's still just the way it is. The labels have a ton of power, regardless of the changes in the industry.
It's reminds me of entrenched businesses exploiting out-of-date regulatory systems. Like trying to apply the old taxi car numbers cap / medallion model to Ubers system just doesn't make sense at all.
The internet changed the music industry even more than taxis. Especially with artists becoming social media 'influencers' in the process (and almost as a pre-requirement) and more of the power is going back into their hands.
So I support anything that gives the artists more control of their masters/content, more say in the room about distribution since it's not all backroom radio shows and record store deals like it used to be.
When you have soundcloud rappers getting famous with zero major label help its just basic logic that the old-school contracts, major parts of which are still apparently being used frequently by the big labels, will need updating.
Certain power dynamics have clearly changed.
I'm not a lawyer and don't have all the answers but it is an opportunity for more decentralized control and wealth going back to the creators and promoters more directly.