Any place could operate in such a manner. And there are numerous places that do. The problem is, they aren't centralized. And, when it comes to shopping, that is a big inconvenience for people to jump from site to site to listen to the tracks and buy them.
The idea here would be to have something exist as nothing more than a virtual window display and checkout counter. Thus, a place like BOA could continue to exist while also taking advantage of the main portal. It also allows for some integration with people who haven't promoted a web presence and such.
But, while I'm keeping this ridiculously over-simplified right now, the idea is to have a central point that doesn't act like your typical distributor/middleman while skimming a fair amount of your profit off the top of each sale. Rather, the sale results in the money going directly to whatever entity owns the music. From a collective approach, we have all the resources to do this. In the end, our only steady costs really stand to be server space and bandwidth. We can likely find people willing to donate some of this (I'm certainly willing to). But, if a good number of the artists in the techno scene can get brought in on this and sell through the site, a significant chunk of the expenses for running the thing could likely be paid with advertisements.
There's just some hurdles we are facing in the code possibly as I have not seen anything like this (doesn't mean it doesn't exist however).
We need the interface to do the following:
a.) Have a user interface for people who have access to add data.
b.) Have a billing system that could handle multiple different credit merchant accounts, while appearing as one purchase for the consumer.
c.) Have a storage interface that allows for data to be sent from servers on which the actual interface does not reside.
Then, after that, there is the monumental task of getting artists and labels to actually agree to use the site and to promote the thing. Without some real promotion, it's pointless. However, this can be kick-started with links to the site printed on record stickers sleeves, on CDs and the booklets/inlays, on mixtapes, on MP3s one may be inclined to make available for free, and as an affiliation next to your name on a flyer when booked. If enough of us really want to see something like this, we could make it happen.