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I buy from Smashwords occasionally, but more often than not I get their freebies, because I don't find most of the books on there are worth buying. There are exceptions, I've read some very good books from Smashwords, but they aren't the rule.
My big problem is that too many Smashwords authors seem to suffer from "golden word syndrome," and not only don't edit their books but seem to actively oppose having them edited. The problem with that is that every book needs editing. Not necessarily by someone else, it's more efficient that way, but if the author puts in the time and effort they can learn to edit their own work. (Especially if they have good beta readers.)
Unfortunately none of that is possible unless the author is capable of looking at a first draft and seeing a first draft: If they see golden deathless prose, the book is done for.
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