I do think selling out is an adolescent idea, myself. It can stifle your artistic progression and your ability to make your band economically and practically viable. You may have to sign to a major record label to get your story and message across as well as finance your band, if it's the most effective way of doing both.
As far as natural artistic progression goes, I think fearing "selling out" can lead you to overlook that you may come to a point where you start writing stories that show a adult perspective on things and your music reflects this. Say, you become more influenced by Nick Drake than MC5, Black Flag and The Stooges and it suits the story you're telling.
With the advent of the internet, it makes the idea of "the underground" more problematic, as everything is available instantly and sans effort. Angular Recording Corporation once said in their title bar: "There is no underground." I kind of agree with that, the internet has swallowed everything. One expert, Martin Raymond, of London based company The Future Laboratory commented in an article in The Independent, saying trends in music, art and politics are:
... now transmitted laterally and collaboratively via the internet. You once had a series of gatekeepers in the adoption of a trend: the innovator, the early adopter, the late adopter, the early mainstream, the late mainstream, and finally the conservative. But now it goes straight from the innovator to the mainstream.
I even co-wrote a play with an actress for her disseration this way and I think the idea of "selling out" may almost be as outdated and obsolescent as the mainstream you rail against itself. Things are far too fragmented, atomised even, to be mainstream or underground. You should remember that in the theatre, "selling out" is a good thing!
The Pulsebeats said:
I guess the total polarisation of opinions on this is what makes it a hot topic, and a personal one. There are those who see any foray into 'the mainstream' as selling out and others who believe the whole concept is adolescent and purile. I can understand the former to a certain extent if a band is seen as leaving a scene behind that has helped them become who they are. It must feel a little like "thank you and fuck you later" (which I guess was where Albini was coming from with his Sonic Youth remarks), but total black and white doesn't make sense to me.
Like what John Carlucci said earlier, artists need to be true to themselves. Maybe they should be the ones who decide if they've sold out or not.