Actually, I think the band sounds great. The drums sound great. But I have to admit, I'm not a fan of that song. : (
Now, I presume you're not a Prince tribute band. As for "just playing covers" -- hell, that's what 95% of all musicians do. I mean, musicians with gigs that is.
It's a simple song, & easy to play, so long as the arrangement's good. Not featured on this clip, we build this song into a very different vibe from the original. Key thing is, it goes down really well, even though it stands differently to most of our set.
Anyhow, cover bands. This is my first ever cover band. Aside from giving up playing for over 20 years, everything else I played was original stuff, at least, in a band context. I earned my living playing other peoples original material, often with little notice, or straight off the dots. I kind of liked that spontaneous creative/interpretive pressure. Much to my surprise, I'm actually liking playing covers, although the band is starting to do originals. I must confess, I like that even more.
As for tribute acts, I think they're mainly a product of a commercial good thing that's on a roll. They've found a niche, & the public seem to lap it up. Not really for me as a punter (other than admiring the dedication needed to pull it off convincingly), but I do think it's great that an avenue has fired up where players can earn a good living. For that reason alone, it's a good thing.
All that said, a good band, be they cover, cover/original mix, or tribute, can get work if they put enough effort into the business side & put on a good show. Our band travels with top touring pro gear, full lighting rig, crew, etc, & we bring a larger gig experience to smaller/medium sized gigs. It pays for itself, because we buck the trend, & have no bother getting bookings at many times the average rates. Ultimately, we pull punters into venues. Once you've got that, you have leverage.
Only a few months ago, I got into a bar conversation with two guys who are in a local band. They were complaining bitterly about how cheap the local bar owners were. Well, I checked them out a couple of weeks later, & guess what, they were cheap too, so IMO, they got what they were worth, if not more. Zero effort, crappy sound, no lights, looked like shit. Mediocre playing, & about 50 punters in the place. They got $300. I say they did pretty well considering.
Sorry, off on a little chirping session
P.S. the drums in the clip aren't Guru (except the snare), & at this small gig, not close mic'd, just kick & OH's.