It seems as if every rock band (maybe.. nu-metal band) signed within the last five years has been dropped from their record label for quite some time now.

Depswa, somewhat recently signed to Geffen and not too long after had their tour support pulled. Then Geffen turns around and signs a band like Lamb of god. Their seems to be missing logic. A band like depswa is always going to out sell a band like lamb of god simply based on marketability.
Where does everyone else think the record industry is going?

if the industry is moving away from nu-metal, that can only be seen as a good thing

Well, it seems that the new "fashion" is "oldish" rock... Something like The White Stripes play... A thirst for retro, I guess.
But, yeah... Nu metal is trash, IMO.