Both terms refer to work or art that are beyond simple quality and typical commodity.
Quality used to be the main differentiator amongst the competitors. People seek out quality products/services and talk about them.
These days, with plenty of choices available in any given product/service category, the quality is now considered given. Lack or no quality is the easy route to put yourself out of the game.
When everyone can offer quality, commodity sets in and the price gets driven down. The race to the bottom begins.
The other option is to deliver excellence and remarkability. Give something for people to talk or remark about.
By being excellent and remarkable, it enables the race to the top.