I like my new guitars to look new. Come to think of it, when I buy a used guitar, I like it to look as new as possible as well, however old it is.

I don't understand the appeal of relicizing/distressing a brand new guitar to make it look old (faux mojo?)-why not just play it hard, it'll get that way on its own-relicizing a guitar is an extreme form of instant gratification
I actually feel a bit sad about the wear I've put into some of my most played guitars over the years. I'll probably even have them refinished eventually (oh the horror!

) ; When I bought my `62 BMW motorcycle, I made sure it ran, rode it around, and disassembled it and painted it as soon as I had the chance. When I bought my `64 BSA Lightning Rocket motorcycle, I did the same thing. I'll eventually do the same thing to the Triumph I bought. If I were to buy a new, retro styled Triumph, I wouldn't walk around it and chip the paint, put dents in the pipes, crack the headlamp lens, or pour pool acid on the chrome to make it rust, in order to make it look like an old one. similarly, I fail to see the appeal of this process on guitars.
I remember the first Fender Relics I saw on the wall at a local music store ten years or so ago, complete with cigarette burns on the headstock(hey, instant Keith or Ron!); My thoughts were that they were for yuppies with more money than sense who wanted to buy faux mojo, and a temporary , silly gimmick. Much to my surprise, it's become a popular styling exercise (?). To each one's own though; if it makes one happy to have a relic, buy it. The prices some some of these things fetch is a bit obscene IMHO, but if people want to spend their money that way, it's their choice.
My and other opinions aside, whether or not the relicized/distressed finish process for guitars falls under folk art might be best answered by quoting the Encarta Dictionary definition of folk art:
"folk art (noun)
Definition:
naive style of art: paintings and decorative objects made in a naive style"
http://encarta.msn.com/dictionary_/folk%2520art.html