Piece of Art, or Piece of Shit?

Sometimes the best part of art itself is the way the artist describes his pieces:

Magowan's work explores the fragility of the socialised self. How do the processes and tensions of assuming identities ultimately result in social caricatures?

And these caricatures may then prove inescapable.

Having yielded so quickly to the seduction of given identities, we realise with either passive submission or empty terror, the superficiality of our moulding.

Statements like that is why The Mayor drinks so much whiskey. Does that make sense? It doesn't matter, that's my social caricature and the superficiality of my moulding. Hey, look at me, I'm an artist!

Anyway, here's the ultimate question: Is this a piece of art, or a piece of shit?