The second component you refer to is the craft, or making of artworks. This was automated away over a hundred years ago by Duchamp with 'Fountain' an industrial

The second component you refer to is the craft, or making of artworks. This was automated away over a hundred years ago by Duchamp with 'Fountain' an industrially made urinal. Since then the making of a work and the meaning of it have become two mostly independent concepts, with neither particularly reliant on the other.