Oh man, it's even structured like a penny auction where the majority tile holder 'owns' the "final creation".
I'm willing to grant that it's slightly slightly interesting to consider what some works would look like if they were chopped to pieces and reconstituted from only the pieces people would individually bid on. There's an artistic statement in there somewhere.
But the pomp and slime that this is presented with completely obscure that.
Or artists like Richard Prince. Prince has been sued several times and made several settlements.
But - his court victories depended on the argument that he actually transformed the works he copied. If someone just claims ownership of a art work on a blockchain, I'm not sure that's the same thing.