He is probably quite talented, because even if it looks like nothing, it's definitely NOT easy to exactly copy another artist's style to a degree that it would fool an expert.
I don't try to justify anything. I just say how it works. The value is what people are willing to pay for it. If some billionaires are willing to pay millions, then the value obviously is millions. It's not reasonable at all, but it is like that.
It's the same as with a Tap Out shirt. It's production cost is maybe $0.5, but as soon as the brand logo is stamped on it, people are willing to pay $40, because some MMA fighter with a name has worn the same shirt, even though the quality is not better than a shirt for $5 without a brand name. With art it's just in millionaires and billionaires proportions.
I think everyone understands how it works. Doesn't change the fact that it is crap. Pure and utter crap that someone would pay that much money for a picture a toddler could draw simply because someone "famous" drew it. The stuff us humans put value into is extremely baffling. Or i should say what the 1% rich class puts value into.
And its one thing to pay 100 dollars for something a famous person autographed and a complete different thing to spend millions on it. If Fertita spent 10k or something for that picture because of the name attached to it i wouldnt say anything but 7.2million??? even if that isnt much money to him the complete absurdity of that is completely nuts.