From the NYTimes:
... I sometimes wonder how any self-respecting author of speculative fiction can find fulfillment in writing novels for young readers. I suppose J. K. Rowling could give me 1.12 billion reasons in favor of it: get your formula just right and you can enjoy worldwide sales, film and television options, vibrating-toy-broom licensing fees, Chinese-language bootlegs of your work, a kind of limited immortality (L. Frank Baum who?) and — finally — genuine grown-up readers. But where’s the artistic satisfaction? Where’s the dignity?
Responses by Gwenda, Ed Champion, Matthew Cody, Andrew Wheeler and Scott Edelman (who's hoping that Ursula K. Le Guin will perform a smackdown) as well as at SF Signal, Finding Wonderland and GalleyCat.