> I guess I agree with this in a way, in that what most people are looking for are water substitutes that will give you a low-level buzz.
This is not really what I meant. I mean to say, for instance, I prefer Sam Adams over 90/100 microbrews I've tried. Name the top 6 non-economy beers in the supermarket, I enjoy most of them more than 75/100 microbrews. Taste-wise, I think most microbrews are a bad product, even if they were priced less than the premium national beers, I wouldn't buy them.
In many ways, it's like self-proclaimed 'audiophiles' and people that love vinyl. It's about something other than just the enjoyment of music. Similarly, as you suggest as a result of market forces, microbrews are about things other than taste. That explains the brewery's side of the equation, but no so much the customer's. Are people drinking microbrews simply because it's cool? Probably, and probably most of them.
I often visit local breweries when I travel as a form of supporting local businesses and such. I do enjoy trying new beers. I found, up until about 10 years ago, a local beer that had supermarket distribution was usually pretty dang good. It was the 'locals beer' which is not really the same as the microbrews we have now.