Why is Bandcamp willing and able to waive its share of revenue

The Future of Music Coalition explained in a great Twitter thread how is it possible for Bandcamp to waive its share of revenue, and still make it work for itself. A few arguments: a "niche-oriented" business model; a decision to do only one round of VC funding; a commitment to iteratively asking artists what they need. What lies behind it - "smart, idealistic music-loving people". Pitchfork investigates how much more money artists make on Bandcamp, compared to streaming services - experimental hip-hop duo 75 Dollar Bill put out a digital-only album, 'Live at Tubby’s', exclusively on Bandcamp on May 1 and made $4,200 in just two days - more than they made through streaming services like Spotify, Apple Music, and YouTube over the last six years.