Art is short for Artificial. Anything that is intentionally made, i.e. not existing in nature. i.e. artificial, can be considered art by eye of the beholder. So yes, all graffiti can be considered art. This does not preclude it from also being vandalism as dwinblood mentioned.
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Thank you for your comment! Yes, etymologically you are correct. This way, I think I pointed at the perception more. No matter what kind of art it is - good or bad, it's still remains art.