Sure, there are things about music that can be analyzed objectively. You can do that to your heart's content. But to me, it's actual artistic merit is how much someone likes it, something that is impossible to objectively define. You can, like, beforehand agree to align your tastes with certain objective qualities. Or your tastes may happen to agree with certain types of melody, harmony, rhythm, and timbre.
But its being good, is a function of your liking it, not of its objective qualities. Chicken and egg.