Difficult to monetize now was an interesting comment from him. I am not sure I see it that way, I think the way you monetize has changed considerably but if anything there are more ways to monetize directly to your audience without the need for a label to take a cut or put their hands to it at all so the artists get bigger cuts of their work.
The most powerful thing he said in that entire interview is this:
"People don't need the record industry as much as they need the music"
He followed that up by saying something about how there are only 3 majors left and that they are becoming irrelevant. I am glad to hear this statement more and more.