Lol I don't claim to be the overwhelming authority on music, but I can usually recognize when something's there or where others can improve. Again, these are just my personal philosophies and opinions about music.
What do I consider lyrically and emotionally substantial? Elliott Smith, Bob Dylan, Jeff Buckley, Neutral Milk Hotel, The Kinks, Radiohead, Sparklehorse, Beatles...
It's whatever sparks my interest. Jeff Buckley and Elliott Smith are my all-time favorites. Others I find have great music (Sigur Ros, Rilo Kiley, Rufus Wainwright + Loudon Wainwright, Animal Collective, the National, Regina Spektor), but they don't really have the full package going on.
If I had a rating system, there would be an A tier (and sub-tiers of that category), and a B tier (and sub tiers of that category). I listen to what I consider A tier bands nauseatingly frequently, and B tier infrequently, but I still enjoy it.