I am at the point where I can consider a download only release being a proper release, especially on Bandcamp where you have the option of downloading full resolution files. If I were an artist today, I probably would be releasing download only also. It probably just makes more sense artistically (control) and economically.
However, $20.00 is a bit pricey. Downloads on Bandcamp are usually $11.00 -- the issue for me is not that the releases are not on cd, but the high price point for the downloads. That being said, I will probably spring for the release with Halvorson and Miles in the near future.