I have to disagree, to an extent.
Our job is, first and foremost, to entertain. However, there has never been a great band (even at a covers level) that doesn't have an element of self-indulgence. Of course, there is a line - no one wants to hear a seven minute bass solo version of Chromatic Fantasy at a wedding gig, no matter how good you are! But as you say, the better you are the more you can get away with.
It helps if you can judge things on their own merits and not get too precious - for example, I quite like that Toploader song...