This painting does come from an artist who is considered a kind of master, and his name is Karel Appel. Now this is the kind of painting I do personally not like, but of which I can still see a bit that some people do.
Now there's also a "painting" (I don't know the name of the artist) only containing one black square and its name "Het Zwarte Vierkant", which simply means "The black square" in Dutch... I've even heard of an artist who used his own shit to make "art", and makes loads of money with it, and then I think I'm just dumb for not coming up with that myself.
Now I am the grandson of a man who painted a lot, as well realistic, as abstract, and also some humorist works. I inherited three of this pictures when my grandfather died. None of those are abstract, but I have seen his abstract works and some of his abstract paintings are really beautiful. Just a pity I don't have them. Of course, as these were painted by a man I loved, but who is no longer with me, these works have a lot of sentimental value to me, so I must be honest on it that I am perhaps not the right man to judge his work.
Now art is more than just pictures. Music is also a form of art, as well as writing novels (the kind of art I deliver), and in some ways even a computer game can be an art form. In the end "art" is a subjective term. Some stuff I cannot even consider art, but some people do. What some people consider "music" may be considered "unbearable noise" by others.
To me abstract can be beautiful but also downright ugly. It really depends on how the work has been done. I am not sure I can describe what I like and don't like, but I mostly know it when I see it. To me abstract is not just dumping some colors together... Some work is required to make into a nice composition... But that's too vague, I guess...