Graffiti and tagging really aren't the same thing. Maybe some of the same people do actual art and just tagging but in Seattle we have almost no actual "graffiti". It's almost entirely just...

just dogs pissing on stuff.
and I guess this one has a couple actual colors compared to most which is just black or white paint in random scribbles. Sometimes they do it on the sidewalk and it just looks like someone spilled a paint can. There's also this weird brown solid foam stuff that looks like actual shit. Not sure what it is although I think that's some kind of drug addict thing.
At least when construction workers mark things with paint sometimes you can decipher what they were/are trying to fix or install and it tells a little story.
Sometimes it's nice to actually look at a thing that's just a solid color and admire the infrastructure itself and what makes a city function.
The tagging on this metal box is far less interesting than the fact that it says its flammable, some kind of gas infrastructure. There was some old-timey looking gas pump next to it (which to people's credit seemed to be un-tagged).
Whatever it's not a big deal.