You can tell by looking at the way Mr. Schulz draws the characters that this is in the early years of the strip. Of course, the B&W film and schmaltzy music plunks this film in the 1950s.
The comment at the end is at once a tribute to a successful graduate who has been solely spotlighted in the short, as well as a damning comment on the art form.
Oh -- also, a note to stupid 1950s filmmakers: the comic strip PEANUTS does NOT have a character by that name in the strip. Talk about sloppy research! Doofuses.
Here's the quote at the end of ACADEMY FOR ARTISTS!:
"One such graduate who has built a highly successful career is the cartoonist Charles Schulz, who created the comic strip character 'Peanuts.' It may not be art with a capital 'A,' but it provides an awful lot of pleasure and it pays."
The woman at the end of the film is reading a Sunday PEANUTS from February 7, 1954. (Page 173 of your COMPLETE PEANUTS 1953-1954.)
If anyone can cite the "this ball is in miserable shape" PEANUTS panel that Mr. Schulz is drawing at the beginning of his segment, I would be interested to know.