All value is subjective, there is nothing that exists which is objectively valuable. In order for something to be valued there must be a mind which values it, and said mind can change its views. Food for example is often considered to be something which has intrinsic value but its value depends on there being creatures that need to eat in order to live, and that living is valued. However that is not an objective goal, there is no law of the universe saying that creatures should live.
So no, of course art is only valuable because the art world decides it is. It is the same with everything else in existence.
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