What in the blue hell are you talking about ? The sequence of 1s and 0s is something that could arise from random processes.
Oh, you mean like monkeys typing Shakespeare?!
I didn't notice one occurrence of the word "random" in
this. Interesting.
I give it no meaning at all. There is a conventional meaning to that pattern, which is why we can both agree to what it means, but give it to someone who is unaware of the convention, and see what happens.
The meaning of a pattern derives from how the pattern is formed. The pattern on a chequered flag derives its meaning generally from convention, as you rightly say. If such convention did not exist its meaning would derive from the process by which the pattern is formed. In other words one should identify and understand what directed process has caused the pattern, why and how. That would then give it meaning. The meaning of this particular (non-random) pattern (of paint dispersion), for example:

... derives its meaning from what it patently depicts.
As patterns become more and more "obscure", or "disorderly", however, their meaning, similarly, tends to become so, because the directed effort that produces them becomes ... well ... less directed!
The meaning of this particular (non-random) pattern (of paint dispersion), for example:

... is not apparent and would require an explanation from the artist as to why and how the shape, symmetry, colours, etc. were chosen/formed.
Whereas the "meaning" of this particular (essentially random) pattern (of paint dispersion), for example:

... is likely so obscure or tenuous (if asked of the "artist") that it has no rational explanation. Hence it would qualify as art no more than the image left by an accidentally dropped pot of paint would.