A surplus in production and a glut of competing products

1. Does the blue section mean "advertisements are frequently consumed as art or entertainment, because of their added value"?

2. Does "due to a surplus in production and a glut of competing" mean "because of the excess of production and competition"?

Text:

In the 1990s, certain artists, most often partonised by Charles Saatchi and known popularly as the young British artists, became media fodder. Through the media, the work of these artists became a form of entertainment and they themselves became celebrities. It is clear by now that advertisements are frequently consumed for their added value as art or entertainment, where the experience is primarily aesthetic and/or a matter of amusement. This emphasis on the aesthetic and/or the entertaining in advertising is largely due to a surplus in production and a glut of competing, often interchangeable, products in the marketplace.