Yes, I think you're misreading this slightly. It IS about the Illuminati (conspiracy theory sense), and the "selling their soul" is more metaphorical than real.
What they fail to mention (conveniently) when claiming that it causes depression (in the Eminem video) etc. is that we
know that people are prone to depression if:
1) they are highly artistic
2) they have demands on them from all directions
3) they are under pressure from many directions
etc.
In other words they're looking at something that probably arises from himself and blaming it on a fictional, external organisation.
The Michael Jackson video: once again we're back to claims of a nearly omnipotent organisation that can kill off public figures like Jackson with virtual impunity (and Princess Diana too? I didn't watch the entire thing, it made me laugh too much) yet, surprise, some nameless nerd on the internet manages to expose them weekly.
Ask yourself one question: if you were in charge of a world-spanning secret society that controlled pop stars, trillions of dollars, national economies, stopped and started wars at whim, "disposed of" inconvenient people in the public eye etc. what would
you do to to some nameless geek who tries to expose you on YouTube?
Me? I'd make sure he disappeared, and his files... It's easier than you think. But no... oopsy! Oh noes we've been outed
again.