The process isnt quite that easy to do in 5 minutes. Maybe a couple of hours is more accurate. Most of that due to the mechanics, not actual work.
Some of his stuff is pretty interesting design-wise. Paying 100 million for that knowing his pictures could technically be cranked out by the millions 24/7 because it is just silk-screen, is just laughable, though.
Certainly it isnt fine art, even he would agree there. A little secret is that his home was filled with classical art and not the stuff from the Pop-Art world.
Warhol erased the fine line between art and crap.
2 reasons I really like him. The first being your point, he was a master troll. Played the modern art world like a fiddle, exposing it for the b.s. factory it is, and yet living it up and making some great contributions to design. Not fine art necessarily but fantastic design. He brought fun to that world and opened the door to it for the common person. Put the pop in populism you could say.
I guess my other point is that I really really really love the Velvet Underground and all the bands they accidentally launched.
I will excuse myself now. Fire away everyone. ;)
A true entrepreneur!!!