The serious study of popular films by critics is regularly credited with having rendered obsolete a once-dominant view that popular mainstream films are inherently inferior to art films. Yet the change of attitude may be somewhat __________  Although, it is now academically respectable to analyse popular films, the fact that many critics feel compelled to rationalize their own __________ action movies or mass-market fiction reveals, perhaps unwittingly, their continued __________ the old hierarchy of popular and art films.

Consider the following words:
1.unproductive
2.not appreciated
3.overstated
4.penchant for
5.dislike for
6.investment in
7.exposure to

Which of the following options is the most appropriate sequence that would meaningfully fit the blanks in the above paragraph?

Let us note down the main points. 
Usually, commercial films are considered inferior to art films. The attitude is changing but it is not changing as much as it is described to be. The very fact that the critics justify their interest in commercial movies reveals how they still consider art movies superior. 

The author feels that the change is attitude is exaggerated a bit. Therefore, 'overstated' should be used to fill the first blank. 
The critics justify their liking for mass entertainers. Therefore, 'penchant for' should be used to fill the second blank.
The critics still hold art movies dear. Therefore, 'investment in' should be used to fill the third blank. 

The words represented by 3, 4, and 6 should be used to fill the blanks in that order. Therefore, option C is the right answer.