I'd certainly call the work on your item 'folk art' !
I've seen so many items that were re-used as folk art 'canvases' .
Some of the older ones have left me with the impression that the owners would maybe think "That's too good to throw out!" & then proceed to decorate it .
Lots of folk art has been put on items that have become broken (cast iron pans , for example) or have somehow fallen into dis-use .
Then there are all the utilitarian items folks 'personalized' & used daily .
I also speculate that sometimes people thought that an item was so ugly that it needed to be covered up with some paint (like we do today) .
All that being said , I think folk art (antique stuff , that is) served to help make a hard-scrabble existence a little less drab .
I'd guess that this part of being human is still going on today , however easily it can be accomplished (is a 'custom ring-tone' , or a bumper-sticker folk art ?) .
I think that "Bedazzler" decorated/defaced items will be a niche for collectors of folk art , in the future .
As much as humans have isolated themselves from the forces of nature , it seems to me that we still want to have reminders of it in our homes , however idealized it may be , in images on dining-ware , furniture , paintings & photos , clocks & so forth .