There's still a lot of value in the publishing process. Yes, the gatekeeping is inequitable and suboptimal, but "publishing" is more than simply formatting a manuscript and making it available in retail channels. And a competent editor is doing much more than simply proofreading.
And aside from Kindle, even the 'formatting the manuscript' part is very much underestimated by most self-publishers. Professional-grade typesetting and cover design makes a great deal of difference to reading comfort, shelf appeal, and overall perception of value.
