The longer that I'm in the "art world" the more apparent it becomes that there are two art worlds. The gallery world which is mostly comprised of people who actually make a living by producing or selling art, and the museum world which is mostly comprised of people with an academic background in art and mostly talk/write about art but usually do not produce any art. This was not as true in the past, as previously many artists with commercial backgrounds found acceptance in the fine art world, Warhol, Penn, Rosenquist, etc. However now the academic world seems to frown upon any previous commercial success as tainting the artist.
The art sold in most galleries has to have qualities that are clearly evident to most people, (even those without any art history background), beautiful composition, light, technique, visual interest, beauty, etc. It has to strike a chord with people. The work prized by the academic art world is usually all about references to art world politics, and references to past art work and art history. There are artists who's work crosses both worlds, but they usually have found success in the museum world first and then when they became a "name" their work was saleable in galleries. Museums and their curators do not get attention, something they desparately seek, by putting on safe pretty shows, they get attention by controversy and shock. It seems that most curators at museums want to out shock their classmates. Every once in a while they'll drag out an old favorite, Picasso, Van Gogh, to get the revenues up, and then it's back to Damian Hirst and Serrano's "Piss Christ".
What seems more important to the academic art world, which is not just museum curators but art writers and critics, is not the imagery but the subtext. What is the story behind the art? What is the artists saying about the art world? I was always taught that a piece of art needs to stand on it's own merits, and if you need to explain it, then the piece has not succeeded. However as the academic art world is more about reading and writing about art than actually producing it, they are more comfortable with the language than the art itself.
That's just my own observations, of course I could be way wrong, but it certainly explains why so many poorly done, uncreative, and downright awful works receive such abundant praise and attention.