Yeah, I think that comes under the heading of "wouldn't it be cool if..."

I can think of some ways one might write an algorithm to make something appear more random than truly random, but they all have nasty "gotchas". Like, choosing the lesser of two evils when you've got too much of a given artist on the player: this conflicts with your ability to make other bands appear widely spaced. You end up getting forced to choose who gets a lot of twofers showing up in the shuffle.

Maybe others have already solved this algorithm in cool ways. Perhaps there's some prior art on this that can be referenced...