The enemy of my enemy is my friend. It's easy to poke holes in Ms. Love's logic. She faults the record companies for being greedy, yet blames them, too, for the fact that most records aren't even profitable. You can't have it both ways. But on the whole, I think she is probably correct.
Record companies ARE scum.
They are greedy and fearful at the same time. The problem with all this is that we are arguing about the wrong things. The Internet is giving a new form of liquidity to the music business, but that liquidity can only be enjoyed by making more of a paradigm shift than most listeners and musicians seem willing to do. If record companies are bad, stop buying records. If record companies are bad, stop making records.