I agree to a point but don't think 1% is too accepting. In many ways I think the top 1% of TEDx talks exceed the quality of some traditional TED conference talks, because they typically are doing it solely because of the idea as oppose to conference speakers who have other commercial interests, often promoting themselves and/or their new book.
The value of TED over youtube.com, or an academic seminar at any university is their quality of talks and rigorous selection process - or "elitism" if you wish.
I can believe that the top 1% of TEDx talks are better than the average TED talk. Maybe 10% are worth looking at once you have seen most of TED talks, the best online courses, the best Google TechTalks, etc on your area of interest.
But why are the rest of the 90% even there?
Having a few great talks doesn't matter, if there is no way to find them out of the mass of inanity on TEDx or elsewhere online.