nobody ever went broke underestimating the taste of the American people English

Meaning nobody ever went broke underestimating the taste of the American people meaning

What does nobody ever went broke underestimating the taste of the American people mean?

nobody ever went broke underestimating the taste of the American people proverb

— Americans, as a group, do not have good taste or sophistication and can be easily amused or distracted to produce financial benefit for someone.