Joey just does one thing: 90s style shit. I'm not knocking the kid, I love his mixtape and my top ten will feature two albums that heavily reach back to early 90s east coast shit (Reloaded, Grief Pedigree). But that's not what sells or fills concerts in 2012/2013. Joey will need to show some artist development before getting signed imo.
If he was smart he'd look at Drake, Kendrick, J Cole, Krit, etc for inspiration on what to do next: a mixtape of nearly entirely new material (ie no more rhyming over Dilla, DITC, etc) that demonstrates his worldview along with solid displays of musical versatility. Any label head could have listened to each of So Far Gone, Overly Dedicated, Warm Up, KRIT Wuz Here etc and recognize the ability to do commercial shit alongside the more "undergroundy" stuff. Those mixtapes were like the musical equivalent of an RB sending a football scout video of him demonstrating he can catch as well as run.
TLDR: I'm not sure Joey can do that. Plus if we're gonna be really real...dude is an unattractive (by mainstream standards at least) grimy NY ninja.