My last take on this hit and greatness thing:

Transformer 4 .. a movie rated 5/10 on moat review sites grossed over 1 billion dollars... A HUGE BOX OFFICE HIT( the movie equivalent of billboard hits)

Shawshank Redemption, arguably the best movie of all time grossed 58 million

But Shawshank Redemption got multiple award nomination and wins the movie equivalent of Grammys.

Hit doesn't mean a song or movie is good but it appeals to people and it is making the wave.