I don't believe that what constitutes "art" is subjective - our appreciation for art certainly is, but art itself is not. It boils down to the application of talent and effort to a given medium to create something new. People who say "anything is art" are missing the point - naturally occurring rock formations are not art; paintings made of those same naturally occurring rock formations are.
Cutting an animal in half and preserving it in plastic? Not a work of art - you've simply cut a bloody cow, that you did not make, in half. Sculpting half a cow? Art. Using a bed for a while and then labeling it a work of art and putting it up for auction? Crass marketing yes, art no. Creating a painting of that same unmade and frankly quite disgusting and mundane bed? ART!
Essentially, if all you've done is take household objects/bodily excretions/a bucket of paint, done nothing/put it on display/tossed it at a wall, and called the outcome "art", you're a charlatan and a liar, and the people who defend those "works of art" are pretentious jackasses. There is no deep meaning in a white square with a tiny black dot in the middle beyond "I'm a lazy and pretentious asshole who has cannily figured out a way to get famous and wealthy by producing 'art' that involved less effort than a two-year old's scribblings". If a monkey could replicate your "paintings", you haven't made one - whether or not the outcome is pleasant to look at, it still takes zero talent to throw paint on a canvas at random/cover yourself in paint and roll around for a while/etc.
Whether or not art is any good or not is where the subjective interpretation of artwork comes into play, but a room with a device that randomly flings red wax at the wall? If you are calling that a work of art, you are either the artist (and thus laughing your way to the bank) or insufferable. Suspending a crucifix in a mason jar of urine is not and can never be artwork in the same way that randomly re-arranging the furniture in my living room will not make the eventual outcome a work of art. Anyone who says differently probably went to art school.