Much of modern art, like modern music, has inappropriate themes. There are many pieces of art that you will find in many homes that can afford it. These include landscapes and grunge.
This is similar to the typical disenchantment with non-Jewish instrumentals.
Lastly, many simply cannot afford, or choose not to spend money on paintings. There are many homes filled with artwork by Jewish artists that have beautiful themes of Israel, Torah learning and Gedolim.
It’s not a lack of appreciation but a concern of allowing, even subliminally, inappropriate themes into our homes. That, and a lack of money.