What is art?

Although I recognize and appreciate everyone's right to create and call whatever they make 'art,' I find it incredibly amazing to see things like the results of this year's RBC Canadian 'Painting' Competition.
The winner, Arabella Campbell, took away $25,000 in cash for something that I dare say looks like a border (yes, that's right - only a border) that is often used in advertising and created in a publishing program. Granted, it is large and on canvas, but it certainly looks nothing like a 'painting' to me. There is no subject matter, there is no composition, etc. etc. etc.
It's very hard to criticize RBC - they are putting good dollars towards supporting the arts, but there are probably at least a hundred thousand other Canadian 'painters' who would come out ahead of Campbell's prize winner with most jurors and I suggest RBC insist on changing jurors for the future.
One has to assume that the jurors were blind, or that the decision is political for whatever reason unbeknownst to the rest of us.
It is indeed a shame that this competition is repeatedly won by 'art' that takes little imagination and little skill.
But, don't take my word for it - check it out yourself at: http://www.rbc.com/newsroom/20070926cpc.html and be sure to scroll all the way down. It's almost as if they are embarrassed of the winner also because Arabella and her winning 'painting' are at the bottom of the page.