I would be happy if Phish got together every now and then and recorded new jams like this for livephish.com
If touring is going to be an unworkable situation for the band...they should do this stuff on their own. Be a digital band. Screw the tours, screw the major label hassle...if the only way Phish can come back is by being radically different, while still moving forward, i think this is a great answer. No 3,000 person guest list, no lot scene...just new, great music with no pressure.
I would dig it and I bet they would end up making some great music.
p.s. - this jam is very cool.