While the agreement seems a little weird, the contract was more or less straight forward? If the music label didn’t spend the $50k promoting the music, then that’s one thing to complain about, but otherwise it seems like the terms of the agreement were all laid out ahead of time.
Here is Benn Jordan’s accompanying Youtube video in which he goes into more detail as to the nature of Ian Urbina’s scheme: https://m.youtube.com/watch?v=zk872ERRVxA