This is by design - the capital that backs modern art isn’t doing it for love of the art but for money. For fine art, it’s a way for them to launder money and

This is by design - the capital that backs modern art isn’t doing it for love of the art but for money. For fine art, it’s a way for them to launder money and keep it out of bank accounts where it can be seized trivially. For mass art, it’s about selling to enough rubes to make a profit. Neither are impacted by a stagnation in art. If anything, they’re aided by it - suddenly the art you bought to launder money retains its value because it’s no longer the flavor of the week with the arts crowd.