"Make no mistake about it: once a band has signed a letter of intent, they will either eventually sign a contract that suits the label or they will be destroyed"

In this quote, Steve Albini is stressing the power dynamic in between record labels and bands in the music industry. He is mentioning that when a band has actually signed a letter of intent, they are basically at the mercy of the label. The band will either have to consent to a contract that benefits the label, or they will deal with destruction. This highlights the unequal bargaining power that labels hold over bands, and the possible consequences for bands who do not comply. Albini's usage of the word "destroyed" recommends that the consequences for not signing a favorable agreement might be extreme and potentially crippling for the band's profession.