From Bloomberg:
"BandLab isn't Kuok’s only musical endeavor. He's also turning
Swee Lee, a sleepy 70-year-old distributor of guitar and audio equipment in Singapore, into a modern enterprise, selling merchandise online and offering music lessons. It's now the biggest distributor of instruments and audio equipment in Southeast Asia, with shops in Malaysia, Myanmar and Vietnam. Sales have doubled since he bought the company in 2012."
He's also resurrecting Harmony Guitars, owns a piece of Rolling Stone, and bought MONO Creators, who make high-end instruments cases, straps, and accessories. Seems to me BandLab is intended to be the destination site/billboard/gathering place that will lead to other endeavors that make considerable money. In other words I don't think its role is to be a profit center, but a marketing expense - and one which I think could be very cost-effective compared to traditional advertising and marketing. The more people BandLab attracts, the wider the message will be disseminated.
Again, this is speculation on my part but it seems logical enough.