I can't agree with you more. In fact I just wrote a post on steemit about the overvaluation of Spotify. Would be cool if you checked it out. I also discuss some blockchain check will help shape the music industry into something new.
https://steemit.com/music/@rumble/spotify-ipo-valued-at-usd20-billion-plus-what-this-means-for-blockchain-music-dapps-like-peertracks-find-your-creative-freedom