This is a brilliant idea! Creating an alternative to the current system, where a middle man controls the artist's process, property, and profits! This platform gives artists more freedom and effectively decentralizes an abusive entertainment industry! Artists like Gramatik are laying the ground work for other artists to follow. I wouldn't be surprised to see a lot more "electronic" musicians, who embrace technology, go in this direction!
Yep, you got it :) If they manage to do what they have planned, it's just a matter of time for Singular to gain good traction among artists.