You must be young. This is how a lot of projects used to be before everyone sold their soul. This is the original hacker spirit.
Basically, you streamed each individual file from other people's libraries, which theoretically (at the time) avoided the Napster problem. "You never download the content" they said. It had EVERYTHING as long as the right people were online. Audio books, random weird remixes, you name it.
UMG ultimately took them down.