In the latter case, which I have witnessed countless times over the last 15 years here in Atlanta, you'll have finely crafted work, expertly framed and presented, hanging alongside drug store color prints tossed into a Wal-Mart frame. It's like a baseball team where everyone gets a trophy. It's condescending, and teaches people that they don't really have to try all that hard to make photographs worthy of display in a "gallery."
So, buyer beware. It's ultimately what you can get out of your investment, although I suspect the viewership of most of these shows is limited by the simple fact of geography.