Hi Misty, I did a presentation on this once in college. My argument is that most of the art of this kind comes from a supply-demand standpoint. Many of these artists have mastered a technique of some sort before producing these kinds of works. People are much more likely to buy a canvas covered in burnt umber if they knew it was done by Leonardo Da Vinci, for example.
Secondly, there is often a concept behind these artworks. For example, imagine a painting titled “blood mirror” that has just a canvas in maroon paint. But if it is encased in glass, the viewer would see themselves in the reflection against a maroon background. Some of these pieces have some sort of ‘design thinking’ behind them.
Thirdly, if we are talking about abstract expressionism, it is about the emotion the piece invokes in you. Some of those paintings literally give me goosebumps. They lead you to a feeling and it is more about your emotional reaction. You could form your own stories looking at a piece because they really try to trigger your sense memories.
I urge you to watch this youtube video, especially at time 2:45 where Stan Miller talks to an abstract painting.