You looked better on myspace - Banksy

I was browsing my Google+ profile when I came across +Tom Anderson (everyone's friend) discussing art vs advertising.

He quoted Banksy:

"The thing I hate the most about advertising is that it attracts all the bright, creative and ambitious young people, leaving us mainly with the slow and self-obsessed to become our artists.. Modern art is a disaster area. Never in the field of human history has so much been used by so many to say so little."-- Banksy

What do you think? Is Banksy right about modern art being a "disaster area"?