I'll echo a few of the comments made here. There is not much money in streaming. Bands typically have to tour and/or sell a ton of merch to make any money.

Instead of another label being created, I would love to see a service for bands (similar to a digital or marketing agency) that helps to create activations. Some of the most memorable bands out there have come up with creative ways to sell albums.

Years ago a rap group called the Get Busy Committee bought a bunch of uzi shaped thumb drives for $1 each. They unpacked them, loaded their album onto them, and sold them for like $20 each. They pocketed the profits and walked away with more than what they would have done if they did streaming alone. We need more of this style of engagement.