I pretty much agree.
"Cilvaringz...explained that Wu-Tang wanted to reverse the devaluation of music and help it regain the fine art status it enjoyed during the Renaissance."
The problem with this comparison is that you could not purchase recorded music during the Renaissance, so the value of composed music was monetized through live performance, which it still is today.
If an established artist of the Renaissance period would have held a composition up for auction...let's say they auctioned a single, private performance of the piece...it would certainly pique the interest of many affluent people, but the final price for the private concert would not be an indication of the composition's artistic merit. The composition would not become better or worse depending on how much somebody pays, especially when there are so many variables involved in determining how much one pays.
While art is truly in the eye (or ear) of the beholder, to be considered "art" on a large level requires a consensus among the masses. Let's take the Mona Lisa or statue of David...countless people from all walks of life from around the globe have seen and studied these pieces. Some have seen the one-of-a-kind original pieces and others have seen replicas or photos. Regardless of medium, the artistic relevance is dictated by mass evaluation and consensus among those masses. Note I did not reference sale(s) volume or revenue.
I mention this bc the same holds true for recorded music. The one-of-a-kind original is, for all intents and purposes, the Master copy. The compositions on this master can be distributed through a variety of mediums...compact disc, cassette, vinyl record, a flashdrive, digital streaming, digital download, as a score to a film, in a Boombotix speaker, etc. There may even be a variety of limited editions among these distribution formats. For example, there may be a version limited to 1,000 units that bundles together a compact disc, vinyl record and bound lyric book. Perhaps there's even a more limited version of this bundle - restricted to a single copy - that includes the actual handwritten lyrics rather than a facsimile! That one will be much more sought after and more valuable than the run of 1,000 units, but it's no more artistic. This is because the value of each distribution format will be determined through supply and demand.
The value of art does not rest in its distribution format and cannot be determined by such a limited segment of the population with no "credentials" other than wealth. Artistic merit is derived from a consensus of critical acclaim by peers, professionals and common people alike.
The value of the medium used to distribute the art may be determined by supply and demand in conjunction with the artistic relevance noted above.
At the end of the day, what Cilvaringz and RZA have produced here looks to be an exquisite housing for a compact disc that features (mostly) unheard sound recordings. Its market value will be determined among a market extremely limited in scope based upon some of the following variables:
- Wu-Tang fan and collector that simply can't live without it
- Makes a great conversation piece in the home
- Own something nobody else has
- Invest in the speculative secondhand value of the piece in the future
If someone pays $1 Billion and never lets anyone hear it or someone pays $1 and lets everyone hear it, it does not become any more or less an artistic masterpiece bc that's not tied to volume or revenue.
Also, when I read that the buyer can do whatever they want with it, including distributing it online for free, that really validated what I'm saying. The ART (good or bad) is the recorded music and it doesn't matter what format it's on or how limited it is.
Personally, I love the idea of this one-of-a-kind item, even if I hate that I won't be the one to own it! But all the talk of devaluation of music and restoration of status as it pertains to this release is either misguided or smart marketing.
The artistic value of the music will for some people be a very personal experience, while as a whole will depend on mass consensus of its merit. The commercial value of the formats featuring the recorded music CAN be devalued in several ways. The commercial value of the recorded music itself can be monetized through sales, live performance, licensing, etc., even if some of the sales suffer compared to what they once were.
Bottom line though, the commercial endeavor of selling a single unit of OUATIS has little (or nothing) do with the artistic merit of OUATIS.