Yeah art has objective value and subjective value. Every once in a while you'll find something with a lot of subjective value. Finding something with both is also a thing but it's not easy to find them for a low price.
The reason that expensive art exists is because there's a market. The fact that the market is weird and in decline doesn't change the fact that wealthy people find art to be a worthwhile thing to buy.
The reason that expensive art exists is because there's a market. The fact that the market is weird and in decline doesn't change the fact that wealthy people find art to be a worthwhile thing to buy.