I'm not sure they're barking up the right tree here
Lossless audio is all very well, and it's well worth having these days given how cheap storage has become. However the limiting factor in most setups these days isn't the bit depth, sample rate or amount of lossy compression. It's the appalling mastering of many modern albums of the last 20 years. I've found myself responding to that by mostly buying albums that were made in the 1970s and 1980s. Sadly, many of these originally good recordings have been "remastered" and in the process been ruined by dynamic compression and hard limiting which simply robs music of its soul.
There did appear to be a campaign group (http://turnmeup.org/) highlighting this but it doesn't seem to have had much activity over the last few years and besides I had to blacklist their emails ever since they appeared to have turned over my email address to spammers.
The bottom line is, for all MP3's faults I'd rather listen to a decent recording, properly mastered, as a 128Kbps MP3 than a 24/96 FLAC if the latter recording is a distorted wall of mush with absolutely no dynamics.
Neil Young and co. should use their influence to target this first, IMO.