I'm sure that you're absolutely technically correct when saying what you'd said, but I had to reread it 5 times just to figure out what you meant, and I'm still not sure.
Are you saying that the strategy to indiscriminately like whatever's popular will lead to worse outcomes because of random effects, as in this experiment that showed that popularity is largely random? Then you're right--because what are the chances that your preferences exactly match the popular choice?
On the other hand, if it so happens that you end up liking something that's popular and you couldn't tell it apart from something similar in a blind test, is it in any way bad that you're getting utility out of it?
Yes, that's correct. Generally, permitting your valuations or beliefs to be influenced hysteretically in the direction of what's popular is bad. However, because aesthetic judgments have minor epistemic harm, and have instrumental value due to better "bonding" with other humans, that general heuristic does not apply here, so you can safely permit yourself to be drawn toward the judgment of others with respect to music.
I shouldn't, but it's safe for humans.
I just downloaded the latest Radiohead album, and I love it.
Thinking back, I started listening to Radiohead years ago when I found out that some of the cool kids in school were into it. With all the hype about the new album, the status/fashion processors in my brain going to ensure that I enjoy listening to it. I would probably fail a double-blind test with a bunch of imitation bands' fake "new Radiohead albums".
But I'm really enjoying listening to the album, and that doesn't seem like a bad or contradictory thing at all, even in light of the statements above. If, hypothetically, I was enjoying it for purely non-fashion reasons, then presumably that enjoyment could also be traced back though a causal chain to facts about brain development, evolutionary psychology, or whatever. But we would have no problem accepting that enjoyment as A Good Thing since explaining enjoyment does not diminish it. And so it seems in this case.