Which do I think is fandom? Trick question. They're both fandom. They both speak for fandom. Since there's no deity to pronounce an answer from on high as to which is the REAL fandom, the only way to identify fandom is find where fandom identifies itself.
We no longer live in a world where there is one fandom culture. That time passed us by long ago because fandom never stopped innovating. Somebody said, "Let's hold a Star Trek convention!" Somebody else said, "Let's hold an anime convention." Somebody else said, "A game convention." The fandom family got bigger. It spread out. It married into other fandoms. Even though the old homestead is still there, that place can no longer hold the whole family any more than Worldcon can hold every fandom. Nor should it. Every fandom is fandom. No more, no less. They are all legitimate. They are all real.