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It means that his brother is out there being a sellout. According to Holden, the entire world, especially people who love appareances, looks, and the superficial (namely, the Hollywood society) are phony, fake, and Holden hates them. At first he was a huge fan of his brother for his writing ability. Holden held that quite dear. When the brother got a chance to make movies Holden felt that he was just being a sell out and a fake like the rest.
DB is Holden's brother who started out as a small writer and became a Hollywood screenplay writer. Holden says his brother "sold out" to Hollywood. He felt that his brother's stories were better before he sold them to Hollywood. Holden is the ultimate hipster in this scenario and that's why he calls him a prostitute.
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