The general reaction to this seems to be negative surprise. But why is there any surprise here?
The big-name concert venue/ticket industry hasn’t had any real competition for a long time. This is just a duopoly (whose parties weren’t legitimately competing) becoming an official monopoly. It’s just formalizing the way the industry has actually operated for years.
There might be some good-natured people among the big-name performers, but there are so many greedy people and monopolies between you and them that there’s absolutely no way you can participate in their economy without being completely, shamelessly ripped off at every opportunity.
Is seeing your favorite band really worth that $75 ticket with the $35 tacked-on “convenience” charges and the $19 “shipping” (first-class envelope) fee? Next time you think of going to a concert that’s part of this scheme, consider what you’re actually supporting.