The 360 deal is bad for most who don't negotiate it well, but if you know what you're doing and have good lawyers, it can be a mutually benefiting deal.
If you own your masters, a majority of your publishing, and your namesake, cutting the label some bread from touring, merchandise, and endorsements can benefit both parties.
1) You're gonna get the majority of that show/endorse/movie money. But allowing the label to get a small chunk of that will not only allow them to make money, but it will allow them to back you more in marketing, as they will want you to get a much endorsement as possible so they can get more money. This means you will get more push on your music as well as any other ventures you may take on (such as acting) because the label can make money.
2) 360 contracts are not forever. If you control your masters, publishing, and your namesake, you will retain all of your royalties and will be able to make money long after you have left the initial label for another one. Meanwhile, if you are truly talented and popular with the masses, all that push that the label gave you during your run with them may be all you need to sustain work on your own or help to give you leverage in securing an even bigger deal with a new company.
Now I might be totally off base and naive in my thinking about the 360 deal, but I think labels are just trying to stay afloat and get breaded off the ventures that you would have never gotten on your own without their backing in the first place.
In an ideal situation, artists would negotiate hard to get a deal that benefits them most. And if this ends up working to save the music industry and makes it massively profitable again, we may see more quality control in mainstream music.
Think about it, nobody is going to back Future on a 360 deal for 5 or 10 years if the guy is going to be irrelevant in 2 and not get any endorsements in the process. Labels would be able to afford good A & R work again to secure talented artists, which may benefit more underground cats who deserve more shine and recognition than they are getting.
Again, I could be totally wrong. But that's just my opinion on how the 360 deal may be good for music.