It further devalues everyone else's work in the eyes of the consumer though. Not that it matters because you can find anything and everything for free on the internet already anyway. My album, not on a label, with no marketing by a no-name artist was distributed for free on bootleg sites like this before I even had a copy of it in my own hands:
http://music-am.ru/62513-mark-wein-black-market-hearts-2014.html
On top of which you get royalty payments like this from the streaming services:
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Music isn't worth anything anymore, so why bother trying to have a career? U2 has already built their audience, made thier money and bought their private islands so it's no big deal to them.