"nobody ever went broke underestimating the taste of the American people" meaning in English

{
  "etymology_text": "Widely attributed to American author and social critic H. L. Mencken (1880–1956) but not found in his published works, so the source and original form of this expression are not known with certainty.",
  "head_templates": [
    {
      "args": {
        "1": "en",
        "2": "proverb"
      },
      "expansion": "nobody ever went broke underestimating the taste of the American people",
      "name": "head"
    }
  ],
  "lang": "English",
  "lang_code": "en",
  "pos": "proverb",
  "senses": [
    {
      "categories": [
        {
          "kind": "other",
          "name": "English entries with incorrect language header",
          "parents": [
            "Entries with incorrect language header",
            "Entry maintenance"
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          "source": "w"
        },
        {
          "kind": "other",
          "name": "English entries with language name categories using raw markup",
          "parents": [
            "Entries with language name categories using raw markup",
            "Entry maintenance"
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          "source": "w"
        },
        {
          "kind": "other",
          "name": "English negative polarity items",
          "parents": [
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            "Terms by semantic function"
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          "source": "w"
        },
        {
          "kind": "other",
          "name": "English proverbs",
          "parents": [],
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        },
        {
          "kind": "other",
          "name": "English sentences",
          "parents": [],
          "source": "w"
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          "parents": [
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            "Entry maintenance"
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          "source": "w"
        }
      ],
      "examples": [
        {
          "ref": "1982 June 13, Edwin McDowell, “About Books and Authors”, in New York Times, retrieved 2015-09-13",
          "text": "“I remembered that nobody ever went broke underestimating the taste of the American public, so I set out to write the worst novel it was humanly possible to write and still get published,” he said.",
          "type": "quotation"
        }
      ],
      "glosses": [
        "Americans, as a group, do not have good taste or sophistication and can be easily amused or distracted to produce financial benefit for someone."
      ],
      "id": "en-nobody_ever_went_broke_underestimating_the_taste_of_the_American_people-en-proverb-PaJ49qdt",
      "links": [
        [
          "American",
          "American"
        ],
        [
          "good",
          "good"
        ],
        [
          "taste",
          "taste"
        ],
        [
          "sophistication",
          "sophistication"
        ],
        [
          "easily",
          "easily"
        ],
        [
          "amuse",
          "amuse"
        ],
        [
          "distract",
          "distract"
        ],
        [
          "financial",
          "financial"
        ],
        [
          "benefit",
          "benefit"
        ]
      ],
      "related": [
        {
          "word": "nobody ever went broke underestimating the intelligence of the American people"
        }
      ],
      "synonyms": [
        {
          "word": "nobody ever went broke underestimating the taste of the American public"
        },
        {
          "word": "no one ever went broke underestimating the taste of the American people"
        }
      ],
      "wikipedia": [
        "H. L. Mencken",
        "Ralph Keyes (author)"
      ]
    }
  ],
  "word": "nobody ever went broke underestimating the taste of the American people"
}

{
  "etymology_text": "Widely attributed to American author and social critic H. L. Mencken (1880–1956) but not found in his published works, so the source and original form of this expression are not known with certainty.",
  "head_templates": [
    {
      "args": {
        "1": "en",
        "2": "proverb"
      },
      "expansion": "nobody ever went broke underestimating the taste of the American people",
      "name": "head"
    }
  ],
  "lang": "English",
  "lang_code": "en",
  "pos": "proverb",
  "related": [
    {
      "word": "nobody ever went broke underestimating the intelligence of the American people"
    }
  ],
  "senses": [
    {
      "categories": [
        "English entries with incorrect language header",
        "English entries with language name categories using raw markup",
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        "English negative polarity items",
        "English proverbs",
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        "English terms with quotations"
      ],
      "examples": [
        {
          "ref": "1982 June 13, Edwin McDowell, “About Books and Authors”, in New York Times, retrieved 2015-09-13",
          "text": "“I remembered that nobody ever went broke underestimating the taste of the American public, so I set out to write the worst novel it was humanly possible to write and still get published,” he said.",
          "type": "quotation"
        }
      ],
      "glosses": [
        "Americans, as a group, do not have good taste or sophistication and can be easily amused or distracted to produce financial benefit for someone."
      ],
      "links": [
        [
          "American",
          "American"
        ],
        [
          "good",
          "good"
        ],
        [
          "taste",
          "taste"
        ],
        [
          "sophistication",
          "sophistication"
        ],
        [
          "easily",
          "easily"
        ],
        [
          "amuse",
          "amuse"
        ],
        [
          "distract",
          "distract"
        ],
        [
          "financial",
          "financial"
        ],
        [
          "benefit",
          "benefit"
        ]
      ],
      "wikipedia": [
        "H. L. Mencken",
        "Ralph Keyes (author)"
      ]
    }
  ],
  "synonyms": [
    {
      "word": "nobody ever went broke underestimating the taste of the American public"
    },
    {
      "word": "no one ever went broke underestimating the taste of the American people"
    }
  ],
  "word": "nobody ever went broke underestimating the taste of the American people"
}