I worked at the Film Festival for years as a projectionist, so I have a unique perspective on this.
I can tell you from experience that it is the DREAM of EVERY SINGLE SUNDANCE attendee to become a sellout with a corporate studio job.
Just ask two of the most famous "graduates" Stephen Soderberg or Kevin Smith. How many "indie" films they done lately? How about the guys behind South Park who got introduced to a wide audience at Sundance? Sundance is about having your parents fund your shitty student film, in hopes that you get accepted into Sundance, so you can sell it to a studio, make big bucks and then get a job in the industry with one of the studios.
As for Redford. He walks the walk. I have personally see him eat what he provides his volunteers to eat. He his NOT an elitist, nor does he flaunt his wealth. He donates quite a bit to charities and conservation causes. He made a point to learn my name and KNEW it year to year.
But, the Sundance film festival? It's a corporate whore fest and Redford knows it.