Wrong. You don't need a label or radio anymore. Drake, J. Cole, Wale, Wiz Khalifa, etc. kind of ushered in that and Mac Miller pretty much proved this. As well as Odd Future, and others. By the time Radio catches these records, they are already underground hits to the point where they don't need the radio, the radio needs them.
These artist are proving how unnecessary big labels are. The only thing necessary (kind of) is a distribution deal. Mac Miller had a number one album w/o a record in rotation on the radio. J. Cole had a number one album w/o a strong record being on radio. Work out caught on AFTER the album dropped. Wiz Khalifa caught fire w/o the radio and a major label.
The point is, you don't need radio to pop anymore. You can build an extremely strong fanbase without it. Radio helps, but is a kind of poor indicator of if someone needs the radio or not. There's been a plethora of artist who've proven how outdated pushing a single to radio is.
Now I will say that if your goal is to get a record on radio, (in constant rotation) you do need a label for that. No other way to get on radio than through a label. However, my point is that if J. Cole, Wiz, Mac Miller, etc. don't need the radio to drop number 1 albums, then Beyonce, Ye, J****, Em, etc. sure as hell don't need radio. Ye just dropped a number 1 album without radio.
And as far as what The Dream said in that video, basically what he's saying is that album sales aren't a good indicator of how "poppin'" you are. If J**** sells 300k, that's a poor indicator of how many people actually listened to his album. In the 90's, in order to listen to his project, most would have to purchase a copy. However, in the internet era, obviously most of us now download the project and unless we are real fans of the artist, don't purchase the project. By bringing in corporations like Mountain Dew, Samsung, etc. they take away the middleman (Label) and allow the artists to be compensated for the people who download the music w/o buying it. This way, artists aren't hurt by the downloads and get paid regardless.