Agreed!
Basically Labels are signing artists who have everything, ie:
1) Talent = Songs (whether your own or someone else's) + Performance
2) Image = a look/product that they 'get' and is proven to sell
3) Market = an already established fanbase.
There's a forth one, 'Great Connections' that cuts across some of the above but ultimately without 1-3 it'll never be long term.
I know someone who has 1 and 2 and the `fourth` one,,,,,,,,,,but not really number 3......you can get signed to add a bit of class to a label....they we`re..but make no-mistake you pay for your own education.