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Also, I think most people would judge "generic" to mean crap. Why? Because generic stuff, by it's very nature, is boring. And the worst thing a piece of entertainment can be is boring.
If something is exactly like everything else (hence "generic"), then what's the point of reading it? How can it suprise you, how can it deliver an experience you haven't already received 100 times before. Now some people never get bored with certain things, which is why generic stuff manages to make money. But most of us do get bored.
When I see something the first time I think "Awesome", a second time "Great", Third time "Okay", fourth time "eh, I'm doing something else..."
Now a particularly good execution can make up for a lack of fresh ideas, but fantastic execution in itself is pretty rare. Genius mangaka don't appear very often, and talentless hacks are everywhere.
Whenever you have anything succesful, you'll get a few guys who are truly talented going into it, and you'll have 100 other guys who think they're talented going in as well.
It's just a natural conclusion of human behaviour that the vast majority of everything artistic produced is going to be mediocre. In fact, even if the standard was elevated, people would simply adjust their expectations upward, making it nigh impossible for any artistic field to achieve a success rate much higher then "10%".
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