Okay, you caught me. There's no such thing. After the electronica-influenced backlash against the backlash against the Ska/Weird Al Yankovich/Led Zeppelin backlash, the second wave of Neo-cryptofascist hip-hop punk received accolades from Rolling Stone magazine when MTV determined that this was a marketable niche, and the entire zine subculture immediately decried it as "not alienated enough." For example, one review from "This Zine Is So Post-Hip It Doesn't Have A Title" stated simply that
"The third wave will happen, but it will be a marketing ploy, a juggernaut of boy bands and other shite on the scale of Elvis and The Beatles. And just like those dinosaurs of sell-out crapulence, it deserves to be buried."
So, there was no third wave. Some people claimed that eddie from ohio accidentally recorded one track that fits in this genre when their soundboard introduced harmonic feedback into one track. The resulting noise definitely had street cred, but because they only released it on vinyl, they were accused by the real fans as "post-sellout vinyl elitist wannabes," and their record only sold two or three hundred thousand copies. Because it didn't acheive the pinnacle of elitist musical sub-sub-sub-genre-fication, selling less than 10,000 copies, it was deemed crap by those "in the know".
But seriously folks. When arguing about your music becomes more important to you than listening to your music, you need to sit down, watch High Fidelity, and get a life. Just because other people enjoy the music you enjoy doesn't change the validity of the music or the earnestness of the artist. And I hate to burst your bubble, but the artists who aren't in it for the money don't give a flying squirrel if you think they've sold out or transcended a genre or broken into a whole new paradigm. They're just making music that they like. Remember that next time you use the prefix "post-" or "neo-" to describe someone else's enjoyable hobby.