I know this is an old post, but I think it's a very important topic.
Here's the truth...no one likes fondant. Even celebrity cake chefs, like Duff Goldman, who are famous because of their fondant cakes, will tell you they hate fondant. Goldman even went so far as to say fondant is not meant to be eaten, that fondant is meant to be peeled off the slice of cake. That is seriously terrible justification for using an wholly unappetizing ingredient, then selling it for a very high price.
Here's the truth... the cake industry has long recognized the difference between a cake for eating and a cake for show. Cake competitions do not judge show cakes on taste. And the reason being is that everyone knows a show cake is absolutely horrible in taste and texture. So horrible in fact, the judges won't even taste a show cake. And show cakes are routinely covered in fondant. Cake competitions have separate categories for baked cakes. This category is specific to the quality of cake flavor and texture.
Unfortunately most people end up ordering a show cake, beautiful, but inedible. Here's the dirty little secret: professional cake bakers know the majority of guests will take one bite, taste how horrible the the cake is, then leave it on the plate. Many guests won't even take a bite as they have been conditioned to reject event cake based on eating bad cakes at past events.
Since cakes are priced by the slice, ethical professional bakers will do three things: 1) advise clients to order less cake than the number of guests; 2) make a real effort to bake a good cake to put under the fondant; 3) buy and use the best fondant and ingredient so the client at gets a cake that is palatable.
The issue of a beautiful, but inedible cake is reflected in the way caterers and clients now approach dessert. Top caterers routinely advise clients to order a dummy fondant covered cake with one real tier for the ceremonial slicing of the cake, then order a separate sheet cake made with quality ingredients and iced with a delicious buttercream. Not only is a sheet cake a lot cheaper but once sliced and plated no one will know that it wasn't from the presentation cake.
Where I live, it's common to have a small presentation cake along side a dessert buffet. Guests are more inclined to actually eat a plated dessert over event cake.
Driving the horrible inedible event cake industry is the proliferation of craft store Wilton cake workshops. Wilton produces bottom rung cake products. Their emphasis is on selling their products. The actual cake quality is of zero concern. Those who come out of Wilton programs don't intentionally create terrible tasting cake, rather it's a matter of never being taught to bake a delicious cake. A look at YouTube shows just how many cake sellers out there can decorate a cake, yet cannot bake a decent cake.
Their cakes are domed, cracked, overly brown, and very dry looking. They slice off the domes because they cannot decorate and stack it otherwise. But they don't bother to cut away the dried out crust. To deal with the dryness, they saturate the cake in simple syrup. They then cover it in fondant under the misguided notion that pretty on the outside makes everything perfect on the inside.
Most guests are so conditioned to this horrible Wilton way of doing cakes, they just automatically refuse to eat cake served at an event. Given the high waste and the high cost, event cakes are sliced into small 1 1/2" to 2" slices. While more slices per cake saves the client money, most of the cake still ends up in the trash.
Event cakes in the area where I live start at $8/per serving. Top event cake bakers command $12/per serving and up depending on design. Event cakes are expensive. Cake is meant to be eaten. So it's really a terrible shame when someone spends $800 on a cake that, once sliced, is tossed into in the trash. It's a lose-lose-lose from baker to client to guest.
