Well, this isn't supposed to be a comprehensive theory of art. I'm highlighting the conflict between the motives of artists and businesspeople, so I'm talking more about the artist than about art itself.

I'm also not sure beauty is a crucial universal feature of art. Beauty seems to me more a visual quality and thus is less relevant to writing and perhaps even to music. This is because the word was originally applied to physically attractive women.

If beauty is whatever "delights the senses and pleases the mind," as one definition would have it, this hedonic conception certainly conflicts with the challenging aspect of art. This conception would fit in with the shallow happiness industry, whereas perhaps art is supposed to disturb us, depending on the circumstances.