Matt,

If wishes were horses than beggars would never leave show biz. The differences between a professionally produced product and home brew are stark. Improvement in the field of recording equipment and the availability of home based studios have widened the gap, not narrowed it. It is true that the dirth of retail outlets has changed the market and obliterated the advantage that labels had, in regard to distribution and marketing. With most sales resulting from personal appearence and downloads, CD sales are more a result of touring, concertising and packaging and less of publicity, play and payola.
But, to a reviewer, who must base his opinion on what he hears, not what he sees, sound and crispness are coins of the realm.
Can a quality recording be made by an artist in his basement? Sure, but I wouldn't bet the ranch on his chances and betting the ranch is just what he is doing.