What's interesting about an argument like this is that if we're going by the traditional definition of Indie, then a lot of modern jazz, black metal and 99.99% of modern progressive rock are about as "Indie" as it gets, as beyond most of the extremely well known albums from those respective genres in their heyday, almost every band who tries to strike out in those fields is on an independent label or are self-produced.
Otherwise, Gavin nailed it right on the head. The whole "Indie" sound that a lot of pop, rock, folk and electronic stuff gets tagged with these days are generally artsy people doing artsy, occasionally accessible music who like to think they're alternative to what gets tagged as "alternative" in big name publications and your local Target.
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