It is about the great films. Simple as that.
If you're watching the milquetoast media, what you'll hear about is pseudo celebrities, what they look like and the nonsense questions (from the very same media) that they have to answer.
The front page of newspapers have to sell themselves. They'll print what they need to. Film festival, flood, famine or fortune. Topic is not their issue. Content is. Ultimately, you have the ability and responsibility to think and make decisions for yourself. The media is neither your mentor or informant.
The cineasts will communicate with themselves. The buzz around a great film (American Beauty '99, Slumdog Millionaire, '08) can't be defeated by yellow journalism and a shallow report of superficial aesthetics. The power of a great film transcends pedestrian yoo-hooing. As far as I can recall, American Beauty, Crouching Tiger Hidden Dragon, The Princess Bride, Farewell My Concubine, Eastern Promises, Hotel Rwanda, Life is Beautiful, Strictly Ballroom, The Fisher King, Cyrano de Bergerac, The Big Chill, and Chariots of Fire (not to mention the hundreds of other films that were huge successes in their respective markets) have never been referred to as 'disposable crap' and they have all been released past the aforementioned two year mark.
It's a boon for the entire city. Hotels, restaurants and nightclubs included. They're only part of a very long list of beneficiaries.
...and...
if your favorite escort has to settle for Roger Ebert instead of Draper, Clooney or Noriega, then why isn't her favorite client taking her to TIFF?
He can't be any less appealing than Ebert, can he?