I was actually wondering the use case for NFT art for a few days. My confusion was, it's an image that can just be copied and saved. So why would anyone pay fo it or what if someone buys one copy and starts selling multiple copied versions of the same image. You however answered part of this here :
If a particular photo increases in value, the one with the key will be able to cash in. Everyone else who tries will be known to be peddling a copy
The question still remains, what if someone just wants a "free" copy for say, for example, as their desktop wallpaper. They don't need to actually buy it, they can just download a pirated copy.
To me the NFTs that made perfect sense are the Splinterlands cards or DCity cards. These have usability and if someone wants to use it, they have to buy it.
Am I missing more of the whole NFT Art concept?
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