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Really, the fault lies with the British "indie" charts in Melody Maker and the like, which long ago became a barometer of what was aimed at the "indie" market rather than what was produced by people independently.
Today, I find it kind of useful, in that if something I haven't heard before is described as "indie rock", I figure it'll probably be boring, cliched music made by college age kids who cop all of the moves from the interesting bands of the late '80s with none of the innovation. No telling whether they will be on a major or "indie" label of course, but they can, and will, sound the same either way.
As for No Wave revivals, as painful as it was to watch that Kill Your Idols documentary on the subject, it was worth it to hear what Lydia Lunch and James Thirlwell think of that idea!
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