Why is this painting worth $56 million dollars?

I clicked on this article which is titled "Child Damages $56 Million Painting in Netherlands" kinda to read the story, but also to check out the painting.

I was surprised to see the painting is so plain-looking. $56 million, for this? It looks like a sheet of plywood painted orange and yellow.

Could there be a nefarious explanation for why art like this is so highly valuable?

I have heard that in the 60s, groups like the CIA funded "ugly art" to confuse and dehumanize the population. And also I imagine it would be a great way for people connected to a famous artist to launder money.

Could any of this be true, or is the explanation more reasonable, and if so, what is the explanation?

Why is this painting worth $56 million dollars?