I believe art should be for everybody to appreciate and understand.
Much like propaganda-art and advertisements from the 20th century, art is a communication tool. It should motivate, captivate, inspire and speak to the imagination. It should stimulate inquisitive thought and speak to a wide audience.
In my view the merit or value of art is comprised of both the perceived beauty of a piece, the craftsmanship and dedication that goes into making the image as well as the underlying or conceptual message of the artist and/or the context in which is was created. I do not think these elements are or should be mutually exclusive and I strive to produce work that ideally has all of the abovementioned qualities (but i deviate from time to time :)).