I'm not going to deny that there's a lot of crappy art out there. However, this article is such bullshit that I suspect the writer is just trolling. For those who are nodding along with this article, consider the Obfuscated C contest: http://www.ioccc.org/ That's art. But it's art that most people in the world can't begin to appreciate. You need years of coding experience to really get it. You need context. When hack…
Imagine if someone took programs written for the Obfuscated C contest and boxed them up for sale to the general public. Art that is "movement Z is a reaction to Y, which in turn is a reaction to X" might be fine for artists to circulate amongst themselves, but the problem is that it is sold to people who have no such insider knowledge, yet like to pretend it is somehow relevant to them.
On the other hand, collectors who are rich, dedicated, and informed are a huge component of the total money spent on modern art, and are big players (iconic example: the Guggenheims). They can end up having a tremendous influence on the art world.
Bottom line: don't feel sorry for art collectors. And if you collect art, buy what you like! Not what people tell you you ought to like!