I have to disagree with bandaidman a bit here. I do so from my perspective on what constitutes art. I believe that where function truly follows form, is enhanced by form, that you have art. Fancy doodads, filing, engraving, do not make art in my mind. They may well enhance an artistic design, but no amount of silver/gold/gems on an ordinary design constitutes art, IMHO.
I think several of the Greco knives I've seen pictured exhibit form following function very well. Much more so than the typical design of most of his peers and competitors.
But, taste is pretty subjective. There certainly are many folks who consider blackvelvet Elvis paintings to be the height of artistic expression. I'd rather have a good towel or shop rag.
Closer to home, I don't find most fantasy knives artistic, because they do not allow function. They are pure form, and useless to me. They do not capture any "essence" of knife, IMO.
My $.02 worth.