Fair enough, and perhaps I am being a bit too harsh. :-) I would point out that I haven't wished anything but the best for this guy, and have congratulated him several times in my comments. I also like seeing a Second City showing in downtown Chicago as much as the next guy :-). I can't say I have any specific criticisms with regard to entertainment. What bothers me is when things of little value are assigned a very high value.
I will say this: entrepreneurs are people with particularly powerful talent; with that power comes a responsibility. Imagine the choice between developing a Facebook application that lets friends buy digital icons of drinks for their friends (why not just real drinks :-p) versus an Facebook application for FreeRice [1]. A responsible entrepreneur would develop the FreeRice application, even though profit might be smaller. A more concrete example can be seen in Google. They own the most valuable piece of real estate on the internet (their homepage), yet they don't monetize it. Their restrictions on content on AdSense are stricter than they are required to be by law. The list could go on.
As tdavis pointed out, there will always be people looking for a quick buck. Let them monetize the things that don't really matter. Instead, skilled entrepreneurs should tackle the more difficult problems and monetize things that create value and have real impact on lives.
I may be stretching your analogy, but I would compare Google search to the works of Claude Monet and most Facebook/AppStore applications to paint by number. If the media keeps sensationalizing paint by number, eventually people will believe in it.
[1] http://freerice.com/