Well, the charts would indicate the most popular music in terms of downloads and physical releases bought legally.
Chart music is available to the vast majority and the market for pop music tends to be those who are most likely to have disposable income and those most likely to be easily targeted. I.E. It is easier to exploit teenage girls with boy bands than it would be to target the same artists at geriatrics.
And since there are a lot more teenage girls buying music than geriatrics, the markets desired artists will be most successful in a commercial sense.
In short, having greater exposure will allow one to have greater sales.
Top 40 charts have never claimed to contain the best technical pieces of music nor have they claimed to have the most talented artists, they have always been based on sales.
They are no less relevant now than they were at their inception.
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