Dubstep (and derivative brostep) is big here in LA these days. There's a show in Chinatown on Monday night.
"Lower and lower quality equipment marketed as the real deal" is not a new affliction for music appreciation. Since way before my time (think centuries, not decades) there's always been someone who made a cheaper version of a product and marketed it as better. In the 60s and early 70s when I was in college, my JBL L100s were far and away the best loudspeakers of anyone I knew, and my Kenwood receiver and Dual turntable made everyone else's equipment look like toys. I can recall brands like Electrophonic selling tons of cheap gear and even once-respected brands like Zenith, Magnavox, and RCA flooding the market with gimmicky, awful sounding stuff to capture high school, college, and young adult music lovers. This mass market approach sold many more units than the real hi-fi units of the day, but little if any of it is remembered, while the great equipment of that time still has value and usefulness.
I think the same will be true today.