I wanted to throw this out to start the debate.
I have a pretty clear idea of this that completely diverges from what I seem to read in media and hear
from other sources - it isn't about re-inventing for the sake of re-inventing, it isn't about making
insanely complicated frou frou dishes, it isn't about destroying "classical" cooking (the romantic sexy cooking

)
- I think modernist cooking is about combining science and what we supposedly should have learned in school
to debunk many of the clearly scientifically proven wrong parts of cooking. - I like to point out things like Hestons's
videos on searing a steak, what Chris has explained on Maillard effects.
I cringe every time I hear things like sealing in juices, authentic (any) cuisine, sticking to the true and proven and so on.