Label pages and artist pages are distinct - a label page doesn't sit above artist pages the way a parent account might in other platforms.
Instead, the relationship works at the release level. When label functionality launches, you'll be able to associate specific releases with your label page - even if those releases were uploaded by artists who have their own independent pages on Subvert. This means a release can appear on both the artist's page and the label's page simultaneously.
Payouts also work at the release level. This means an artist can have one release where payments go to the label, and another independent release where payments go directly to them - and both can live on the same artist page. The label's catalog page would show only the releases that are part of their catalog, while the artist's page shows everything.