I don't have a TV for exactly this reason. I like bands based on their music, not whether I'm told to like it by an MTV bigwig.
On the subject of My Chemical Romance - I work in a record shop and a member of staff put them on the other day. It sounds generic. I think it will sell. Whether it should sell is an entirely different matter.
I think they are average at best. They have a good PR team behind them, but the music is not memorable enough. It has a youthful energy, but there is nothing beyond that. I don't think they're offensive enough to cause controversy, and they're not talented enough to change the musical climate. It's too manicured for my tastes. When emo or whatever it is dies out, so will MCR, just like Limp Bizkit did with Nu-metal, Ugly Kid Joe with funk metal, Poison with Glam metal etc, etc..
I largely listen to music outside of the mainstream, so I tend not to see things in terms of how 'cool' something is. I like new musical inventions opposed to copycat money-spinners.
The lead singer is 'very pretty' though, so what do I know?