Are Light novels the lowest form of Japanese literature? As what i've seen on numerous occasions...

If we take that as a truth (even if I disagree with you), then LNs become even more extreme.
It requires no effort to project yourself into these. The prose is bare-bones, only describing necessities, the story telling is in first person, further reinforcing the "wish fulfillment" aspect. It's a husk of a proper book, leaving out unnecessary "modules", which are to be filled by the readers "mind", no risk, let the reader shape the world's minor details unconsciously, it shall enhance the reading experience.
As I said, pinnacle of consumerism, written to be read on the subway, and then thrown into a trashcan.

I still dont understand what you meant by "pinnacle of consumerism" because that would just characterize most novels in the market atm. Like, how are they different from "actual" novels really? I've read some LNs like Durarara and I really cant distinguish their difference from any "regular" novel I know

It was made to be read and then thrown out without artistic merit.
It's also a quite short, effortless read. Perfect for the urban dweller.
Western "fantasy" and "YA" lacks the "short" quality, those books are quite large, they have the size of proper novels.
LNs are more like the self-published amazon books, only, LNs enjoy "official" (i.e. publisher) support on the market.

"Welcome to the NHK" hit me more than any book ;(

Because that sort of manage to transcend LN limits by turning into a cheeky parody of the supposed audience.

Welcome to the NHK isnt an LN iirc

The very rare exceptions should not allow the full medium to be exempt. One or two worthwhile light novels does not redeem the medium as a whole. They're called light novels for a reason, as they lack the needed patience and effort of a genuine and authentic novel.

I own a few myself but I know also that the majority of them do not hold a candle to the majority of worthwhile literature.

So LNs are just wattpad tier fanfiction huh. Never thought about that way. Thanks user I knew I could count on Veeky Forumsposters

Aren't most LNs dumped out in hope that they make it big and get a manga/anime adaptation to rake in more cash?

The end-game isn't to stay relevant in literature history (be remembered 100 years from now), but monetary gain. (This is the publisher's/authors viewpoint)
It is a quite intricate subject. (Anything can be that, if you look closely enough.)

Light novels, even the light novels that people praise as being 'well-written' (Baccano, anything by Nisioisin), are still written in that brain-dead, YA wish fulfilling mode with clumsy writing, thin characterization, and little insight into any sort of themes.

Welcome to the NHK is not a light novel though. It has no illustrations and is written in a different style.

Most LNs are similar to YA literature. Some of it is good, some decent, most are mediocre. I guess most lit users don't want that kind of discussion over here, just like they don't want 'fandom wars' between fans of harry potter or whatever other YA lit is famous right now.

They're the fastfood of the literature world.

Even /a/ admits they're garbage.

There might be a few rare good ones out there, but they shouldn't be discussed here out of principle. We wouldn't want to invite this cancer here.

I write "LN fandom wars" on the bill of the "TV episode" structure most have. (YA fanwars are the fault of the movie versions, so, shallow consumerism again. (like how GoT was hypes up as a "grim" LotR, and it was struck with retards arguing which is better, even when the two have negligible similarities)

Now to think about it, Veeky Forums is one of the "franchise free" boards.
The only thing remotely close we have to that is the "penguin vs wordsworth vs everyman's vs dover vs LoA" discussion that pops up from time to time. Even then, it's about pure quality/price ratios, not only preferences.