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You don't need people in the roles of the traditional publishing gatekeepers to help you wade through all the crap in the self-published world. Cream still rises. The good stuff you'll hear about through word of mouth (and reviews) and the crap will still languish in crapland. The only real difference between that and the traditional system is that things will get noticed because many people are actually liking something, rather than a handful of people guessing (no matter how educated a guess it is) that enough people will like it for them to make money on.
There will always be good enough filters in place that people won't be forced to wade through garbage for the pearls (unless they want to). They'll just be filters based on actual reader responses to works rather than a self-appointed 'dispenser of art' commitee.
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