Yes, absolutely there is a snobbery. After successful album:
Twat A: [insert band name] has sold out.
Twat B: Innit, liek, fuckin sellouts.
Twat A: [another band name] are kewl.
Twat B: Innit, dey're tourin soon yeah, tickets?
Twat A: Kewl.
...until another band has sold out too.
Apart from that, I don't what it is. Could be any combination of factors such as the genres which are popular at any one time which changes on a decadal basis. I don't know if this process has ended though. I'll give it a decade. Genres which will chew and spit out those who are only in it for the money will produce more bands with artistic merit and if those genres are prominent then the charts will be better. Mind you that was largely true of The Beatles and nobody gave a shit. Another factor should be how accessible music is now. Having a scene is easier than ever. Only buying music within a genre is easier than ever. I'd like to see the info for this; it's my suspicion than ever though there's probably more music sold today than there ever has been, there's proportionally far more artists around to take in those sales so less sales per artist. I doubt, even with a growing world population, the march of English to the status as unofficial world language, and the growing affluence and accessibility of non-western markets, that we will once again see artists who can shift as many as The Beatles, Elvis or Michael Jackson.