The art world is just fine. Pretentious art speculation maybe not so much. In a way, we are actually in a golden age. I lurk on social media accounts of amateur art enthusiasts around the globe with (IMHO) good taste who seek out interesting little known artists and post it on their feeds. I am introduced to so much great art that I probably would have never known about otherwise. If I see something I like, I search…
> I can give my money to excellent artists directly
No, you can't, or at least not to any artist.
Although I wholeheartedly support the idea of paying directly to the artist and even commissioning specific pieces, many "blue chips" are selling only via galleries/dealers to ditch management and bargaining and keep prices consistent.