On one extreme you've got 'art': Van Gogh's Starry Night, Michelangelo's David, slabs of rusted metal elegantly posed outside an office building, a buck-naked performer howling and urinating while attempting to play a xylophone with her feet. You know, art.
On the other extreme you've got 'product': individually packaged microwavable pancakes, Pokemon plush dolls, sunglasses for pets. Useless stuff that adds a breathtakingly small amount of value to our lives. The space between the extremes is densely inhabited.