It's actually the artists who can sue since it's their work being distributed. The distributor might have a fair use argument since the purpose is artistic preservation and the artists clearly never intended to profit off the songs. If a trendy DJ remixed one and it saw commercial success, the original artist might have a case.
The fair use exception for preservation doesn't give them the master or mechanical rights needed to stream them to other people.
The fact that their music was originally distributed uncontrollably and for free within keygens and cracks probably means that the artists don't care about sites like this.