Maybe another way to describe it is: Hollywood ("show business" as a whole, but it leaks into popular media in many ways, thus popular [anything]) has a huge presence in both positive and negative ways.
As usual in idioms, context is extremely important / often more important than the words themselves. "Show business" is a reference to a highly visible and influential segment of [a population], though often devoid of analysis beyond that point.
American culture for the past 40 years. Seriously, this is a common idiom.
* i'll add that whare i am 'the hardest working folks in show business', is often a compliment: we have our backstage (offices etc), and front of house (dealing with customers) where we have our smiley faces plastered on.