You're right, Tucci. There are a lot of things to consider when one talks about success in the "industry." I still contend that marketing will win out over talent any day in the "mass market" part of the industry. Sensationalist headlines sell more product than quality journalism; Justin Timberlake is probably selling more records than the world-reknowned classical guitarist, John Williams; and more people watch Joe Millionaire than the Discovery Channel (even when Discovery is having something lame like "Shark Week" on

). It's all about marketing.
However, there ARE opportunities out there when you take into consideration localized markets, and niche markets. Sepultura does pretty well in terms of record sales, even though I can't remember EVER hearing anything by them on the radio. An indie band CAN generate a fan base in their area and sell a fair number of albums. Barenaked Ladies sold over 50, 000 copies of their debut album, mostly in Southern Ontario alone, before they ever got signed.
The example cited in the article intends (and succeeds) to show that famous does not necessarily equal rich. Once everyone is done getting their share of the pie, there may well not be a whole lot left at the end for the artist. I would question, though, why a band would pay a lawyer over $100 000 to get them signed to a deal that ultimately pays them not a whole hell of a lot. Everything in a contract is negotiable, and the cited example really didn't get a great record deal. Their lawyer should have advised them against this (but apparently didn't.... whole other thread there....)
On the other hand, if an indie band sells 30, 000 copies, and nets about $10 per copy after expenses, then they have made $300, 000 dollars!! WAY more than the band in the article. The trick is selling that many copies as an indie band.
Where the value of the record deal comes in is in selling a huge amount of copies simply due to the marketing dollars and networks in place to support it.
It all gets a little foggy when you consider the income generated through radio play (roughly 5 cents for each individual play on each individual station - THAT can quickly add up), which is again where record companies are really necessary in order for those numbers to add up to a lot of money. Then there's tour revenues. Some big-budget tours lose money. Some gross unbelievable amounts of money. An indie band MAY be able to gross more than a label-sponsored touring band, but maybe also a whole lot less. Again, tour income is negotiable in any record deal.
Lots to think about!!
Chris