A lot of people don't understand it. I don't either sometimes—that is why I like it. Sure, sometimes people just draw random lines and circles or splash paint on a canvas but, it is actually an inspiring way of art when done by passionate artists.
The idea that only time-consuming hard work can be recognized is pointless, in my opinion. Contemporary art may be easier to create than portraits and sceneries, but isn't expression the basis of art?
If we start evaluating time, money, and sweat spend on every piece of expression, then I think we are missing the whole point of any form of art. Art should be free expression. It is a mode of communicating. You either understand it or you don't.
Everyone reads everything their own way. Everyone has their own deductions and that's why I like contemporary art almost as much as I like poetry. You use your own experiences and try to relate to this piece in front of you.
I'd like to clarify the difference between contemporary and modern art since I didn't know the difference either. Contemporary art is more abstract and different movements of colors using various techniques. Banksy and Takashi Murakami are two contemporary artists.
Modern art shows the world in the 1860s and 1970s. So, the art we see today is contemporary and not modern. Picasso and Georges Braque created Cubism which is a technique of modern art.
Both types are beautiful, surreal, and leaves space for mystery. You can see what you want to see in these pictures.
Expression is the main point of art. Having a conversation or a debate over an art form is beautiful. Brutal disrespect of an artist and their art, is not.