Reminds me a bit of the Richard Prince "Marlboro Man Ad" prints. Those sold for huge amounts of money not long ago. It is more a personal call on how each of us consider such works, though obviously enough people considered this to be art to make it important (and apparently valuable).
Concept or process . . . just read a bit about Jeff Koons and what some people consider to be art is really blurred. I have trouble with some concensus views, though art is often about breaking boundaries and defying conventions or accepted viewpoints. Unfortunately it is not as simple as a bunch of us getting together and defining art by mob rule.
A G Studio