Here's what I think. I think that art is about the basics (form, perspective, composition, line, color, value and edges) but I think you can have a good understanding of the basics and still create boring art. Though it will be technically pretty for sure.
I really feel that art is at least 50% about your state of mind/heart! There are artists who have maybe missed some of the basics but they can produce paintings that are emotional and evocative, something you can really connect to.
And so, to some extent, I think art school can 'kill' an artist....
What do you think?