Cool idea of a great artist to stay relevant in the era of AI generated muzak!
This is an attempt to grab a slice of the pie before AI-generated music kills the market for session musicians. His terms of use are odd, but that's his choice.
Personally, I'm giving him the benefit of the doubt and saying that his intentions are earnest here; he really does want to put free music in the hands of creators. Maybe if he'd launched a $MOBY memecoin alongside it I'd be skeptical, but my gut says this isn't a venture he expects to make real money from.