"Yes, it takes some guts to bare your soul in public; it also takes some chutzbah to limit yourself to what you've written. "
I would also add that sharing your voice or skills on an instrument also takes just as much chutzbah. It is one thing to do so for your own entertainment, but if you feel that you purpose is to entertain others - you need to drum up as much chutzbah as you can.
I've sat through just as many evenings of self-absorbsed singer-songwriters as I've sat through evenings of out of tune, and often out of touch, singers of traditional folk song. Neither are very entertaining or educational in the long run.
It is the cream of the crop of each that perpetuate the styles and create traditions. Those are the jewels that make both worthwhile and negate any stereotypes that people create in thei own minds.