Standard response from someone who either is "in the know" or someone who thinks they're in the know about a given band, tv show, author or any other collaborative artistic effort that has either gone bad or gone mainstream/sold out.

This is always subjective.

Sometimes you hear this from someone with a genuine complaint, but more frequently it's a setup for a pretentious rant about how so and so sold out to the man, gave up the ghost or got interested in making money more than art.

Targets of this sort of criticism are endless - but especially centered at bands and the like who started out as relative nobodys and ended up big name superstars. Nirvana is a common example, but I even heard this about Radiohead the other day... so you never know.