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Some of you might say "but isn't quality subjective?". Yes and no. There are subjective opinions, but when enough gather, the fact that a lot of people have those opinions is an objective fact. So those turn into quality standards. When it comes to the middle, there is some disagreement (such as the notion of a "critic proof" film), but at both ends of the bell curve, the standards are clear.
I reject this notion outright. The objective fact of a mean collection of subjective opinions does not equate to an objective standard of quality, especially since those objective facts of mean collections of subjective opinion do not remain the same over time. In point of fact, do you realize how universally panned Moby Dick was at the time of its publishing and for years afterward?