From the Musiconomi perspective, I think starting with ETH is right for them because they plan to provide services, it looks like, for the many music blockchains. As most right now are being developed on ETH, it wouldn't make sense to do so otherwise. But even then the question remains: can the existing Ethereum blockchain sustain daily use of music at this point? If anyone knows this, please chime in.
No music perspective or what so ever. Simply Musiconomi is separate from $MUSIC. Yes, maybe some person from Musiconomi was in $MUSIC team at the beginning. But right now, this doesn't matters at all. They want just use ETH to collect more money. I'd rather participate in $MUSIC ICO, and not in Musiconomi. Because Musiconomi is most likely another make us rich ICO. Also, they said that part of funds they collect from ICO, will be shared with $MUSIC developers. But I have no idea, why we need such a scheme, when we can just support $MUSIC developers directly.
I supported Musiconomi from the beginning, but after too "widespread and talking about everything" whitepaper, and announcement, that they will use ETH, I'd rather buy more $MUSIC, instead of investing in them.
Yes, my thoughts about current $MUSIC price, is that is very cheap. It's not profitable enough to mine, in regions with expensive electricity, for less then 640 satoshis. And $MUSIC was 1200+ some time ago. So yes, I could say someone who will buy now, and hold for year or two will be a very happy person.
I wish Musiconomi team well but it does look like yet another "make us rich ICO".