Of course it's not about Krauss, it's a profile of Artforum editor Ingrid Sischy and a trek through the microworld of artists, curators, dealers and critics in 1980s New York. It's incredibly sharply observed and acerbic stuff.
One thing that struck me is how that whole milieu with its factions, feuds, spats and schisms resembled another microworld - you guessed it, music criticism. Not in the details or the ideological stakes, and certainly not in the status and money involved, but there seemed to be correspondences in terms of the rhetorical intensities, the investments, the stances struck, the personality types, the bitchiness.
I was particularly taken by a section where Malcolm talks with Carter Ratcliff, who wrote for Artforum and Art in America, and the conversation turns to the flamboyant critic Rene Ricard, whose approach was so different from Ratcliff's cool, dispassionate, historically well-informed way of going about things. (The reference to deAk is to another Artforum critic, Edit deAk, renowned for her fractured and elliptical style).