Marketplace myths are commonly conceptualized as cultural resources that attract consumers to a consumption activity or brand. This theoretical orientation is prone to overstating the extent to which consumers' identity investments in a field of consumption are motivated by an associated marketplace myth. We provide a theoretical corrective to this tendency by investigating consumers who have become vested in a commercially mythologized consumption field through an incremental process of building social connections and cultural capital. For these consumers, the prevailing marketplace myth is experienced as a trivialization of their aesthetic interests, rather than as a source of identity value. In response, they employ demythologizing practices to insulate their acquired field-dependent social and cultural capital from devaluation. Our findings advance theorizations concerning marketplace myths and consumer identity work and explicate the sociocultural forces that deter consumers from abandoning a consumption field that has become culturally associated with undesirable meanings.