The smartest thing I've ever heard someone say about "taste" was an elaboration on the phrase "taste is subjective", with 'subjective' meaning "based on or influenced by personal feelings, tastes, or opinions".
He said that there isn't any higher truth that can "prove" that a recording of off-tempo typewriter clacking is 'worse' than the Beatles, and that technically both are equally valid as an artistic statement, but that since taste is based on the subject, we can use someone's stated preference for typewriter clacking over the Beatles as revealing of their personality and belief set, and then we can decide whether or not we want to be in society with them.
This put this debate entirely to rest in my mind. I no longer worry about whether or not my tastes are "inferior" or "superior" to someone else's tastes, only whether or not they are compatible. Some people want to rid the world of traditional architecture, classical music, and any other old-fashioned hierarchical art form; their taste for the contemporary isn't inferior to my taste for the traditional, it is merely incompatible, and will inevitably lead to a different society than the one in which I would like to reside.