Naturally most people scorn at the fashion industry, and may be rightly so, but probably without thinking deeply within themselves as to why they look down upon it. For me, it's because I feel that the fashion industry is very much authoritarian. Right at the top you have the magazine editors, who decide what kind of couture (clothes) will fill up the pages of the magazine. Then over the coming months, the designs filter onto the high street, usually taking the form of couture which range in prices from relatively cheap to obscenely expensive.
Now trying to understand this, and my obscure analogy with an authoritarian regime, what the fashion industry is essentially doing is telling us and coercing us into wearing the kind of clothes it's promoting and advertising. This kind of fashion isn't an art form, nor does it come anywhere close to it, and probably the only people who can be classed as artists are the coutures (fashion designers), who are also responsible, but only a few them, as it is their clothes that have decided the direction of the market over the years.
Personally, I think what we wear should essentially be a representation or a form of expression as to how we feel inside, so to make fashion less superficial and provide more meaning into the character of a person. I guess you could argue that, anything a person wears is a representation of the inner self because it's the inner self that decides what to wear in the first place. But even though a person chooses what they wear, clothes are usually chosen because either they 'look good', or because they're 'in fashion' - so everyone ends up blending in with everyone else—which is false because everyone's different.
There's nothing wrong with wearing clothes which 'look good', it's just that no-one would wear clothes just to 'look good' if it wasn't emphasized so much by the whole fashion industry and then inevitably the media industry. In essence, the fashion industry has over the years created the notion of wearing clothes to look good, and so resulting in the state we are in today, where the word beauty literally means 'how good you look' which also results in our fallibility to define beauty as conventionally aesthetically pleasing people.
The alternative; if there were no fashion shows setting the trends, and no fashion magazines telling us what to wear, then the clothes at the high street shops would be pretty generic, and so it would stimulate peoples fantastic sense of creativity to modify their own clothes for their own suitability. And so people would be genuine individuals, wearing beautiful clothes, and in the truest sense of the word, everyone would be beautiful.
As for the coutures (fashion designers), I don't think the problem of the fashion industry lies with them, because they're there the ones creating the clothes in the very first place; and to illustrate the point of the monopoly of the fashion industry, whichever designers' concepts are taken up by the high street fashion labels, the designers' who's concepts aren't taken up are in essence rejected, and so diversity is essentially inhibited.