Post-modernism, Dada, and surrealism drove the stake through this point, The Treachery of Images or Fountain (Duchamp) aren't extremely skillful, but they're world class art from a certain point of view.
That Graham wrote an entire essay rubbing up against this point without once encountering any literature that explains this (seminally Bourdieu, but there are many others) is surprising.
Narrative is critical, and often external, coming from the curator, dealer, critic, etc. Humans love stories.
“Death and Transfiguration” by Strauss is a beautiful, skillfully written piece of music. A story I heard is that Strauss on his deathbed exclaimed “it’s just like I wrote it!” Is it true? Did he say this? I have no idea, and in a sense it doesn’t matter. The piece is made better by the story I remember when I listen to it. It’s not in the music, it’s with the music.
This breaks down pretty quickly outside of fine art criticism. If I put 20 people in a room and only one of them has dressed "in good taste", they'll stick out badly enough that the consensus of the group will be that the one is in "bad taste".
The problem is that "taste" is vague, depends on ephemeral context and may be subject to popular whims and ignorance.
I agree with Graham’s premise. My theory is that people don’t believe good taste exists because most people have bad taste and that’s too big of a pill to swallow. Would you rather admit to having bad taste, or posit that taste doesn’t exist? This is supported by Graham’s observation that contemporary art critics are nearly always disproven a generation or two later, meaning most critics have flawed taste.