This website is awesome. I can honestly say this is an amazing idea and it seems to be working perfectly.
When stripped down to the basics it is a platform for musicians to sell and distribute their music on an international scale without actually having to do much. The service is free to use with the only charge being 15% per sale, dropping to 10% once a target is reached, which isn't too bad considering there are no other charges, costs or tie-ins. As each sale is made the money goes directly into your bank account so no waiting around for cheques every quarter etc, from day one you can be generating revenue from your music.
Not only is http://bandcamp.com/ good for artists and labels, its also good for the fans. It is quite easy to spend a whole day browsing through the many many musicians and bands on the site, listening to their music, finding out who to add to your play list for the week. But the fact that it is a treasure chest of sounds is not the best feature, for me it is the option of being able to choose how much to pay.
Should artists want to, they can let the fans name their own price for the music they buy; some even offer it for free if you like. This again opens up the music to more people and makes the artist more accessible.
The site also comes with many more features useful to the independent artist or label including the ability to check their stats and sell physical CD's via the site.
In short this website is the tool and resource Indie artists and fans have dreamt about for decades; one that for some artists will change everything.