Through out history people have decried art is dead. While there is certainly a lot that I don't appreciate I do feel that beauty is in the eye of the beholder. There is still a lot of great stuff that is being done. I am surprised that you did not mention people like Mapplethorpe. There were many who asked how a cross dipped in urine could be art.

It does amaze me what people will pay for and what they won't.