>"The only way I can see to monetize bit torrent for artists are very indirect and way out of proportion to the enjoyment they create, akin to putting google ads on a popular website."

They don't necessarily have to do it over bit torrent. Television is available over bit torrent as well, and a lot of people use it to download shows. But now that hulu is around a lot of people are getting the same desire met through a channel that compensates the copyright holders.

I'm not sure what the corresponding setup would be for music.