I couldnt make a slab of wood without the guidance of Wood Magazine. I have not one iota of creative or artistic ability. And yet, I've been an amateur woodworking hobbyist for 15 years. Just finished making Dining Room table. Broke my arm patting myself on the back! Gotta love this hobby...
If it's original (most important), well-proportioned, and approaching perfect in its construction... then you have art
If you are building something based on somebody else's plan or idea or work of art... then you have woodworking
It is definitely both, if you have visited places like Nakashima's and seen the craft needed to create the beautiful art you'll agree. As the expression goes "...... Is in the eye of the beholder"