"Under the old system, the best of the writers and artists were signed by labels and professionally produced and presented. Now, with labels in decline, we have lost their jurying function and support and, as a resault, we have asthetic chaos."

well if that's how you found it to be, then I would conclude your taste is very different to mine.

I've never been particularly hung up on sound quality. And, as far as folk in the UK goes, I've generally found that the music put out by record labels was never a guarantee that I'd like their music.

You're forgetting that record labels are not motivated by the desire to put out good music, but by the desire to put out a product that sells. This tends to be more true the bigger the label (i.e. smaller independent labels, and indeed self-releases, tend to be less concerned with locating potential big-selling acts than putting out music they love.)

Actually Mick, I'd be genuinely interested to hear what you think of this music here:
http://www.boweavilrecordings.com/weavil_49.html

You can listen to 4 tracks from it on that link. I cite it as an example, because I don't think anyone could claim it's not a lo-fi recording. It hasn't had any input into its music bar the two musicians concerned. Do you think it's a good album? (I do, and I know I'm not alone in that.)