Does box office determine how good a movie is?

As we have found out recently, Star Wars has passed Avatar for biggest movie domestically. So does box office determine how good a movie really is, I personally would say no because if you look at some of the biggest movies based solely on box office, they may be entertaining but are no classic. Of course if I had my way more independent movies would be included in this discussion. If you've followed my top movies of the year you'll notice how diverse the list is and that's not because I'm trying to make a statement, it's that I love movies. I realize that not everyone is going to like the same movies that I like but just maybe it will get you to watch something you might enjoy. So where am I going with this, I guess luckily for now smaller movies are still getting made but if more people don't watch and support them they may disappear and all we be stuck with is a bunch of Transformers movies.
Shawshank Redemption is considered one the greatest movies of all time and it was not a box office hit and yet if you ask most people it's in their all time list of great movies. I could mention a couple of old movies that are considered classics that didn't do well at the box office such as The Wizard of Oz and Citizen Kane but these won't matter because I'm sure most of you have never seen these movies. There were a few recent movies that I was hoping would do well at the box office because I would have loved to see those characters in sequels such as John Carter which I happen to enjoy and was hoping to see more movies. Another one was Judge Dredd which more then made up for the cheesy Sylvester Stallone one. This one was darker and grittier and the story was a lot better but I don't think I'll be seeing a sequel anytime soon.
 The last one I'll mention is Mr. Brooks which is based on a series of books and is a precursor to Dexter the T.V show, I really liked the character and was looking forward to seeing where he might go.
I cannot deny that there are some great movies that have done well at the box office and I love blockbusters just like anyone but as I get older I want more then just special effects, I need a great or at least a very good story. As you may know I am not a fan of The Transformers movies and that's my fear that all we'll be left with is a bunch of fluff and no substance. I will say this though I am a fan of the old Transformers cartoon movie.
Well enjoy watching movies because you know I will.