It's a business. Most of the names you mention were bands put together by record companies to sell records and make money. Think this is a new thing? - it's been going on for decades. Haircut and Duran had a bit more talent than most, but they opted to sell pop to a mass market. Hence the lack of street cred.

Can I add Weezer to the list? My daughter introduced me to this lot on a long car journey. I nearly crashed deliberately.