I totally agree, the penny per stream focuses entirely on the wrong thing, further entrenching the real issue by derailing the whole discussion. It also makes it less likely the real issue will be taken as seriously later on after we've just "cried wolf" over this one.
On the plus side, services like Soundcloud and Deezer are adopting the payment scheme that is the solution to this, which opens a potentially more promising avenue through which to pursue the issue ("if they can do it, why can't you?").
Best case scenario: indies will get enough pennies so they stop complaining, big labels will continue as today, Spotify will allocate some of its own money to music creation...
and the problem will remain unfixed at the roots.
remember who forced Spotify and others before it, to negotiate a deal at all cost with the Majors or be declared illegal?