The notion of real publishing as opposed to self-publishing and the stigma surrounding it is obsolete. I have no objections to traditional publishers but every one of them started off as a “self-publisher” with a first book. I have pretty much stopped referring to myself as a “self-publisher.” I produce and market books like anyone else in the business.
Real Publishing vs. Vanity Publishing: Self-publishing is often confused with so-called “vanity publishing.” If you pay someone like XLibris or iUniverse to publish you, you are not a publisher—and neither is the company that claims to be your publisher. Vanity presses take zero risk on your book. They make money producing it and they take a piece of the cover price as a royalty, double-dipping at your expense. If your so-called publisher has not made an investment in your work, they are not a real publisher. Real publishers invest in books, pay royalties when there are profits and incur losses when sales don’t match projections.
Comment: I see self-publishing as vanity publishing. There’s a reason there’s a traditional route; it really does sift out the crap. I may not be a published author, but I’ll be damned before I chuck in the towel to push out my writing through self publishing. I did not spend years honing my craft, get myself into all sorts of tight corners just to get my stories, and lose all those late night hours redrafting just so my work can get lost in the crowd.