Ya know, I actually know someone who wouldn't sell out. And it affected me, but years down the line it was all for the better.
My very first original group (tribute page here
Link Removed . Late 70s, I played guitar) , had some pretty cool things going on with columbia records. The A&R guy who took interest in us at the time later went on to become one of the most succesful record company dudes, and anyhow... he started dropping some big bucks on us, and getting us some cool gigs. Bass player/songwriter had a true punk/who/rock&roll attitude and did everything in his power to stick to his guns and not bend in any direction this guy wanted us to. The guy dropped a crapload of money to have us do an all day demo at Columbia, and bass player man arrived at the studio high on tuinols (I think only old schoolers remember these). Was insistent on us having lots of beer at the session too. I don't have to tell you how that went. A&R guy still stuck with us for a little while, but it got ugly. Lots of stories, lots of bad vibes... end result 0.
Not selling out gained us nothing. One guy from that band wound up killing himself (and 2 other people), the other who wouldn't "sell out" is a full time H.S. teacher, and I discovered the bass guitar. I win.

Had (and continue to have) some great times "selling out" with it, also.