I think it's a good sign that a huge artist like a member of the Black Eyed Peas is willing to look at alternative avenues for music distribution. I think when bands desperately try to fight new media (ahem, Metallica) you end up with a lot of disgruntled fans. I don't know if Will.I.Am's site will work, you still have the problem of exposure. How and where will you hear about new artists? Will the site promote new and upcoming artists? How will those get chosen? Through a marketing budget? I think unless he has an answer to these questions the site might end up in the same conundrum that small artists are finding today.