Quality, Les...

One of the major characteristics of "folk music" defining that as what happens in folk clubs, is that it is do-it-yourself. It's social music, and the communality is often as important as the polish on the delivery. I think that is part of its appeal to the self- selecting communities that constitute the "new traditions".

It does lead to situations where in some settings being even moderately competent is frowned on.

Maybe it's as well to list some of the emerging traditions:

Diddleys (though are they new? half hour argument).
Humpties
Old Timeys

That'll do for the instrumentally unstable...

Finger-In-Beards
Dryland Sailors
Sniggersnogs
Copper Choristers
Wild Rovers
Fey Celts

Note the importance to all these groups of the oral tradition, though as has been pointed out, one must not neglect the vaginal tradition.