What if iTunes went 2.0?

Ted Wallingford has an interesting idea – Apple should turn iTunes into indyTunes. Now that the company CEO Steve Jobs has picked a fight thrown the gauntlet to with the music industry, challenging them to allow him to sell DRM-free music, Wallingford writes that Apple should get independents to upload their music, form communities, and then share the profits with these indies.

Intriguing idea, but one wonders if it makes sense for Apple & Co. to start off just with the indie labels instead of all artists.