All signifieds and icons have been liquidated and deconstructed, in that sense I agree that the metaphysical age of art is dead.
Much like martial arts, I'd just say that it's stopped being for the privileged as it spreads towards the everyman. The only "death" going on is in it's gatekeeping hype.
What characterizes contemporary art is that the artist essentially looks through these dead signifieds that are seemingly disconnected when comparing them to their constructions in olde narratives and makes them their own. The artist can take the signifieds and put them into within their own sense of inner logic and in doing so forming their own world with its own meaning and reasons. Contemporary art can be difficult for that reason, to understand you need to accept the logic of the inner world the artist has created.
So was art not alive when it wasn't contemporary, when it was just cave scrawlings of their successful hunts, or wall detailings inside of an Egyptian Tomb?
Art's in the room for it to be appreciated.
This is in direct opposition to metaphysical artist who uses icons and signifiers in an already constructed world with an established logic.
You mean a Graphic Designer?
I'd argue that there are people who borrow from life in less of a directly comparative way, taken from within rather than appropriated purposefully for the consumer. As long as we have people going to their own beat who otherwise rebuke convention, if it doesn't go full blown Post Modern it won't necessarily be reduced into something commercial.