The Growing Charm of Dada
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These things also change with age. As you experience various life events, works that didn't appeal to you in the past suddenly hold much more interest; and similarly, things that once seemed deep and insightful seem trite and superficial.
That being said, studying a bit of art history elevated my understanding of it all; understanding that pretty much all art is a dialog that the creator has with past works was a big key. To reuse my previous example, I still can't stand Shakespeare but at least now I get why his work is pretty significant.
I'm not sure I quite see it that way. I mean, yes, you can view art as a progression where one artist is transforming the art of the past into new forms, but art goes beyond that.
I think it'll be easier to elaborate by sticking to the musical arts rather than the visual arts. Consider any piece of music you enjoy. Sure, you can trace the origins of its style to earlier pieces of music, but to truly appreciate music you don't need to know that history, the music works as a standalone piece. It's the same with visual art, the greatest pieces require very little prior knowledge to appreciate, they instead can stand on their own merits as something that evokes emotion and/or reflection.
It was definitely part of the fun/ random stuff you do in college, but the other half was also a belief that there was this new world of post modern interpretations, philosophy, literature that we had almost no exposure to before in high school, so it had its "seeing the Matrix" moments.
I think it's a relic of the interwar years and that it would have resonated more back then, almost 100 years ago. Now I'm chalking it up to just an interesting, amusing, exploratory phase you go through if you study philosophy and literature.
I think you might be expecting a bit much from an internet comment :-)
May I recommend you Ernst Gombrich's (more general) Story of Art instead, a standard and quite beautiful introduction to art history? I feel it's especially well-suited to provide the high-level "context" you were asking for.
I don't know enough about either to really be sure, but I got the sense of some parallels with metamodernism, in that both seem to be a form of life as performance art, playfully both serious and silly at the same time. This video helped introduce metamodernism to me: