Vaporwave may or may not exist as an established art form or means of expression. Vaporwave works against itself to provide entertainment; the boundaries of irony are irrelevant here.
Vaporwave is said to be inspired by or similar to "sea-punk," however this is up in the air.
The concept of Vaporwave is often considered to be commentary on the inevitable collision of corporate commercialism with what many consider pop culture, although this is ALREADY HAPPENING with corporations trying to hijack memes for commercial purposes OTI. Most Vaporwave consists of chopped and screwed 80s music, and slowed down elevator music that only hipsters would listen to otherwise.
Popular Vaporwave artists include laserdisc visions, Vektroid, and MACINTOSH PLUS, who all happen to be the same person.