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Hell yeah! Let's fuck over museums, you know... those big evil corporations that house art and culture for society. Many are even nonprofits and help fund art projects and provide resources for creativity to underprivileged schools. Gross!
You do know the whole thing is probably increasing visibility of the museum and could be leveraged for more funding/donations than it would have received from just having typical artwork.
Sometimes the art is the story. Actually, most of the time the art is the story of how it was made.
Key word is probably.
The only story here is a artist who stole money. I'm not arguing over being paid to make art and providing a blank canvas. I'm referring to the money that is supposed to be returned at the end of the contract.