To be honest, although James came up with the term... the approach is nothing new.
As a collector, I found DJ'ing to be a great way to 'express' my collection, but was surprised to find (back in the 70's and 80's) that most DJ's didn't have a collection at all.
I remember Pat Brady telling me, back in 82, that he thought it was impossible to be 'both' a collector 'these days' and a DJ and that it was essential for one to keep selling and turning over the tunes to finance new material.
Steve G is one of the few (sure, I know there are others) that would be a 'true collector' and yet he is also able to finance, discover and acquire new material for DeeJaying, whilst being able to fall back upon a huge catalogue of 45's, from his own collection.
At the end of the day, you can only play one record at a time, so I guess it doesn't matter too much what's in the basement!
In my case... a soggy mess!
Sean