I am a little afraid of both views. I think that the idea that poetry magazines are only for a select few elites, is a little dated. At one time, and in some circles it is true. We have to remember that is what it became because of some short sighted people. At one time poetry was sought after and very popular. TS Eliot, no one seems to remember, performed in front of large, very large crowds not unlike our modern pop stars. His circle, and ones like him, Pound, and Stein, and Cummings and many others, were of course elitist, if they hadn't been they wouldn't have been able to do what they did, but they were also lovers of the work, works, written words. They believed in brining beauty to the world. It might sound cliched, but isn't it the right of people to be exposed to something wonderful.
The university elite that you are speaking (or whom I guess you are speaking about) are quickly fading, and the internet is brining a place to people, for people to create and share work anew. I agree that if poetry magazines limit what they take, they are foregoing the true meaning of sharing work. Sometimes it is a rights issue.
On the other side, I see people not believing in sharing their work, or that it isn't valuable. This of course couldn't be less true. Poetry is valuable. It is art, and just because some think it is easy, doesn't make it the case. It is hard, and it takes skill, and it is worth a great deal. Everything should be done to further the exposure of writers and those who would bring their work to us. If you write poetry, you should publish your work, submit it, and let others read it, and you should support all those who do the same. It shouldn't happen in small circles. Do you see that millions and millions of people are just like you, and if they all got together, and showed their appreciation of poetry, there wouldn't be any trouble in supporting poets. It shouldn't be small circles of people who say this is a good poem, it should masses and masses of people who write and love poetry supporting each other. This is coming, what if you could buy a collection of poetry for 1$. How many would you buy? Would you buy 2 or 10 a week to support other poets? If you published your collection of poetry in an ebook, what percentage of those millions and millions of writers would you need to buy a work, before you could devote yourself to the craft?
I guess that's the way I see it. Also, Banana I've read your work on this board, and it is a shame if you don't share it with as many people as you can. I tend to think that poets and writers are a little better than everyone else (those who do not write) and I don't mean, great poets or great writers, I mean all poets and writers.