Ah never mind, read through the site a bit more. They are aiming to be the Mondragon [1] of music. The co-op modal seems interesting, so is socially beneficial corp. In the end of day it is all about implementation. It is nice that there are lawyers and economists involved, but are the founders sound artists? have they toured? run a music venue? Asking for the founding fee of $100 seems quite a bit much, but then again does seems a bit like the vibe coming from LA area who is out of touch with the rest of the world.
[1]https://www.mondragon-corporation.com/en/