Although record contracts are often notoriously exploitative, the common logic of "label = bad" and "they shouldn't own my masters, ever" is waaaay to simple. When big names (in Ye's case, billionaires) go on these tirades, it's hard for me to rack up a whole lot of sympathy, if only because they conviently leave everything the label *does* do for them.
Like, you know, pay for your record to be made...
There's some bad faith arguing sometimes that just isn't right.
That said, I'm not crying tears for labels, either, not by any stretch.