The reason we have art is not (entirley) related to money, markets or IP.
Artists would continue to create for free. They have no choice in the matter. Ask any artist and they will explain.
Art is sometimes about money, but then it's often shitty art
Art is for personal pleasure, as creation or as a collectible, as is money.
It's just another form of money.
And bitcoin is a protocol, regulation is in the code! People can try to regulate it but it wouldn't change a thing, like gold, its use is sometimes regulated but not gold itself.