I think it really depends on whether you actually like the band these new bands are mimicking or not.

Being XTC boy, I guess I gotta bite on the Futurehead disc eventually too. (but just got a buncha stinky cheese prog and one from BarryL in the mail today to chew thru first)

Remember that XTC (for example) got poo pooed in 1979 for being Beatles knock offs too. If you like the Beatles and hadn't grown tired of them by 79, XTC was the greatest thing in years. If not, it's derrivitive junk.

It all comes down to taste: The Flower Kings or White Stripes. What's your poison? The argument goes both ways for either.

As we wander down the track into the future and you get 2nd or third generation derivations, yeah, it starts to lose it's viability, regardless of genre. I like it more if bands bring SOMETHING new to the table.