In reply to all:
This ended up being a bit of an essay, I didn’t intend it to, but I hope it sparks interesting debate!
Climbing is not about the climbs or the grades really, it's about the people. As observers of other peoples' achievements, whether they are of the latest V-whatever boulder problem or Indian Face, the climbing is relatively meaningless to anyone except the individual who experienced it. There is no intrinsic meaning in these climbs, no universal truth that they hold. So if this is the case then what is the point? The individual experience is intrinsic and the meaning we derive is truth for us and us alone. But debating its meaning with anyone else is futile. But, and I believe this is crucial, our motivation to climb is an intrinsic reflection of ourselves. We put our personalities into our climbing, whether they are new routes or repeats and as observers, we can try to find meaning in this and relate to it - this is what is important to us as people and as observers.
For this reason, the purely physical excursions on rather drab or uninspiring pieces of rock will naturally attract criticism because they hold no real meaning for anyone other than the climber. We cannot ever question the achievement or the motivation because we cannot experience the individuals' experience. But when Malcolm Smith climbs this boulder problem, he also makes a statement about the person he is and if as a result we are inclined to conclude that actually he may be a rather ordinary or relatively uninteresting person, then perhaps we should also conclude that his achievement, while physically impressive, does not inspire passion or motivation in others. Of course this does not make him a bad person, just not a very interesting one.
By comparison some one like Johnny Dawes is perhaps one of the most interesting people I think I ever had the fortune to have a conversation with. Even if your only contact with him is his description of the first ascent of Indian Face, which can be found in Extreme Rock, you cannot fail to realise that he is an enormously fascinating, talented and complex human being. But it is not because of the routes he climbs, he does not serve them. Rather they are a reflection of him; these routes and their moves are his way of expressing himself and his personality and it is perhaps no coincidence that they are typically intricate, complex, imaginative and bold.
So what is going on here? I think it is a classic case of status anxiety, whereby those individuals that are being ascribed the most status and credit (the power merchants that crank these unfathomably hard boulder problems), who’s achievements and opinions are granted the most accolade, are for many people the least deserving because fundamentally they are not interesting people; they are not people in whom we can see, and be inspired b, the depth and complexity of their character.
Climbing used to be populated by people of whom this was true and I believe this to be the case because until recently (15 or so years ago), the challenge of climbing was far more complex than of a simple gymnastic exercise. Thus, the type of climbers that were at the cutting edge of climbing were also more complex and therefore more interesting as people.