I take your investor point, but better a diluted share of a robust company than a full share of a failed one.
Tokens could in fact help with copyright concerns, through providing incentives to clean data and disincentivize or lockout spam or copyright infringement.
Furthermore, my own bias is to utilize Soundcloud to build an alternative, collectively owned, platform for new music. I’m ill concerned with majors back catalogue (the source of most of the disputes), and would put my vote towards removing that content entirely so as to start afresh. This catalogue represents a fractional percentage of music out there, and I’m more interested in capturing and building an ecosystem for that majority.
The main evidence that contributors want something like this is their desire for Soundcloud to remain active — this is one way to do that. The likelihood of contributors enjoying new features in a competitive feature marketplace is quite high, I would say — but of course I can only speculate.