Mmm I would say art is a necessity but it’s economics are weird - winner-take-all, etc.
I say it is a me necessity because it is impossible (and perhaps a contradiction in terms) to imagine a human culture or society which had absolutely no art at all.
No music, no visual art, no literature, no fashion, no film or theater, no sculpture, no “craft arts” (which are really just plain art) like architecture, pottery, interior design, graphic design, product design, etc ...
Even propaganda and the fashion of military uniforms ultimately depend on art.
It’s just not possible. And somehow if it was, who would want to live in it?
Therefore art is a necessity :)