Very, very cool... but is it art?

Came across this via Who killed Bambi and I think it's lovely but it did get me thinking.

I've heard criticism of Banksy's work which states that it isn't art but is simply playing. I'm not sure that I'm qualified to judge that (Banksy is careful not to call himself an artist anyway) but I know what I like… and I really like Lipstick Enigma. That might be the juxtaposition of something so soft, curvacious and feminine as lipstick with something like a bitmap font.

Lipstick Enigma from Janet Zweig on Vimeo.

Anyway, I think that this is cool and should I be loaded I'd certainly buy it… in the meantime I'll keep on trying to figure out how it's done so I can recreate it myself.