If you try to apply formulae to this kind of thing, you will end up with formulaic work!
Not necessarily Ian, your concept could apply to say music, but the principle contained in the stuff Brian has highlighted are what have been recognized for centuries as balances that are generally pleasing to the eye. Sure, some folks are pleased with what to others are some very odd shapes, but on the whole, the concepts in Fibonacci sequences and the golden mean, as well as the various kinds of curves are pleasing to the eye of the majority.
Now any artist or craftsman can say, well I make what I like and I like what I make, and fair enough to that, why not eh? But I would guess on the whole that most of us are not often that happy with our creations, for two reasons, one, we are pretty sure we could have done it better, and two we see it up close and personal, and the tiny little flaws bug us.
However, if we are truly honest, what most of us desire is that others find our work pleasing, and in particular our peers, because lets face it, as in any skill, the uninitiated simply don't know what to look for in a good piece. However, even then, they can often recognize an exceptional piece, and that can often make the difference between making a sale or not.
For those who are trying to market their work this surely becomes and even more important concept, after all, who would want to known as a maker of mediocre items, we all aspire to be thought well of for making the best we can, design of work following these principles is what will set us on that road.
Picasso as an artist drew and painted some bizarre looking people and animals, but that was after he learned how to draw extremely well, his draftsmanship was fantastic, superbly realistic, as also was Salvador Dali. Trying to be avant garde with turning without understanding and applying the foundations of good design is only likely to be successful for the odd savant,for the rest of us, it's best to learn how to walk before we run.
This is how I see the value of good design and how it can benefit both the hobbyist turner and the professional alike, but it is just an opinion and as such carries little weight.