Definition of 'literary fiction'

I'm a bit confused about what counts as literary fiction. I got "examines the human condition" from wikipedia, but it also had a lot of stuff that came across as looking down on genre fiction rather than actually defining what literary means. Like, that literary is character based while genre is plot based (not true, how is romance not plot based?), and that literary fiction is "serious art" while genre fiction is for a "mass audience" (since when is sci-fi successful with the masses?) I'm trying not to put my own bias into the topic descriptions, but it's hard not to interpret those descriptions of "literary" as vague and pretentious. From wikipedia: Literary fiction, serious fiction, high literature, or artistic literature, and sometimes just literature,encompasses fiction books and writings that are more character-driven rather than plot-driven, that examine the human condition, or that are simply considered serious art by critics. These labels are typically used in contrast to genre fiction: books that neatly fit into an established genre of the book trade and place more value on being entertaining and appealing to a mass audience. Literary fiction in this case can also be called non-genre fiction and is considered to have more artistic merit than popular genre fiction.