If you owned it, you would have the legal right to use it however you like. For example, using it on your YouTube video. But you don’t, and Bandcamp is clear about that:
Bandcamp licenses it from the artist for the purpose of redistribution, but that’s it. They don’t have a license to transfer any other right than private use.
You license everything. Physical media might make it easier to keep that license perpetually, but it’s still licensed.