I didn't quite mean that. Take a look at the prices at which genuine paintings from the past are sold to private collections. That's where "elitism" really comes into play, which can't be said about collecting anything modern.
Yes, elitism is certainly present. The very concept of art implies elitism to some extent, although one could argue about that.
But I don't agree about pricing.
The hype isn't because of the elitism of art, but because of the auction. That's just its nature.
It's just that art has a high starting price. And something modern starts with a lower price and goes for 20k.
And yes, Ples, I personally think that all sorts of black squares and Doctor Zhivago are "not very good."

В тихой однообразной жизни всегда так бывает: каждый отдельный день бесконечно долог, но месяцы и годы мчатся с непостижимой быстротой.
I wanted to offer you some flowers, but a crown would suit a princess like you much better
Смысл жизни в том, что жизнь на тебе не заканчивается