Soundcloud's annoying player doesn't let you fast forward or jump past the dull sugary bits of its mostly identikit content. For this alone, they should be fed nitroglycerine and pushed into a live volcano.
In terms of evolution, not much has happened in the last 4-5 years, apart from space restrictions and premium account requirements for the more interesting, previously free, services. The fact that they bleed the content creators, rather than the joyful throng of eager consumers, is an all too frequent bleat among the former.
The business model relies on a ratio of a few thousand talentless twats to each next-big-thing. The talentless twats use it because it's cheaper and easier than creating and publicising their own site, and well...you know, they're always in the rehearsal studio, bruv.
The talented few, meanwhile drench Youtube with their lower bitrate stuff for free, and rinse the living daylights out of socmedia with linkage to bump up the hits. Sooner or later, their likes, page hits, and actual paid-for downloads from Spotify, Amazon, Beatport, and iTunes will have enough momentum to generate an actual living breathing fanbase, rather than a bored coterie of browbeaten acquaintances who click "like", but never bother to follow the link.. Quality content has a viral life of its own. If you have the wit and wisdom to monetise it yourself, you'll only have to spend a couple of years being rather good at music before you can afford three meals a day. If you're hopeless, you'll be wasting space on Soundcloud, or it's bedroom dj sister site, Mixcloud, until the the septic tank finally explodes.
If you want to do some simple market research. post the same piece of original music on Soundcloud and Youtube, then spam your social networks once a day with a link to each. Do this for ten days, so you get nice round metrics. The Youtube hits will outnumber the soundcloud hits by at least ten to one, because everyone knows where it is and what it does. Even if you put a weedy low bandwidth version on youtube, it'll still bury the soundcloud version for listens, likes, and downloads. (NB: I'm not for a moment suggesting that anyone download free content from Google subsidiaries using freely available tools...*ahem*)