One thing to focus on is that the rate per song in the CD era can't fairly be compared to the rate per song today - particularly for popular songs that have a global reach. I would agree that "per play" is only a partial metric, but would caution against trying to compare too much over time.
at the end of the day, it's art...'fair value' is a very unique construct
the main point I was making was that comparing 20 years ago to today in this case is likely not equivalent (at best I would say it's an incomplete view)