Then again, a lot of the "good" (Metallica, Priest, Anthrax etc.) bands of the 80s were pretty blatantly commercial in their leanings.
That said, a point has been raised that is significant. The internet has fundamentally altered the equation and made even comparatively "underground" forms significantly more profitable. With the investment of a few hundred dollars a year and a little time (often the time of unpaid e-teamers), labels can get for their bands the kind of broad worldwide exposure in the course of a few months that once took years of touring and tape trading to accomplish. The result is a pressure to put out music that pushes slightly toward the mainstream or music that clones what has already been done within the "underground."