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There's only one filter left and that's readers. That tidal wave of crap is going to be filtered through the ratings systems of Amazon and others.
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Sure to happen in the future, but for now the traditional filters seem to still exist.
And why shouldn't the readers vote. People with similar tastes banding together whether via Amazon, social networking etc. One person's garbage is another person's treasure
I am probably wrong, but the traditional gatekeepers have probably excluded some pretty good books in their time, and have never strongly influenced readers preferences. Just their access in some cases.
I only read books I want to read, regardless of the gatekeepers. When I was very young I read historical and classics strangely enough, when I was a teen, it was Sci-Fi and Harlequin. Now I read mostly mysteries and thrillers and noir or urban fantasy.
Most of my life I was influenced by what was available in the stores, both new and second-hand and libraries and the occasional sidewalk sale. Those were my gatekeepers.
Now I may be confronted by a lot of choices, both good and bad, but overall choice is a good thing and the idea of too many choices seems an oxymoron at best.
Helen