That's a different way to think about obsolescence. The implication is that all components of a culture has utility. Faux nostalgia, being that they didn't even exist, is a romanticism of that given era or zeitgeist. That's not to say that the enjoyment of those parts of the culture is false. I'm sure they did like the original version of the famous song. However it tends to be the apex crop of those cultures we remember. Great paintings, the fantastic songs, the plays of the bard. People don't remember the inferior works that survived the test of time. Art is can definitely be practical and utilitarian but it is not exclusively so. Technology replaces older, inferior technology, new scientific knowledge makes previous knowledge obsolete, art however permeates past that in a way due to its subjective nature. Take Van Gogh's work for instance. From a technical standpoint its kind of a nightmare, but his form and style are considered timeless. In regards to art, new doesn't intrinsically mean "better" because its not about performance, its about appreciation, its about expression. Art is aesthetics, exploring the ideals of beauty and what it means to us.