Indie Rock; Does this word mean anything anymore?

Does the term 'Indie Rock' even mean anything anymore? It became a prominent word that dominated most of the underground rock music throughout the 1990's, eventually graduated into a sub-genre of music. What happens when the bands who create this 'style' all sign to major labels? Does this word still hold its meaning? Is it really a genre of music? It was 'College Rock' in the mid-80's, 'Alternative' in the late-80's and early-90's, 'Indie Rock' throughout the 90's, and most recently the word for the day has been D.I.Y. Is this just post punk packaged in new wrapping paper? Is it a bragging self-importance of 'street-cred'? Does this even apply as a 'style' of music?