Yes it is indirectly. The artwork is not attached to the wav files. It is stored elsewhere and there is a link to the song file. It the "elsewhere" gets corrupted or the link is broken or corrupted iTunes will never be able to find it.
Apple lossless will store the data concerning that song as part of the file as tags so it won't get lost. It stores this info about wav files elswhere so it can get lost.
BTW the artist's name is not metadata. Metadata is data about other data. Artist names, album titles, song titles, genre, etc. is just data.
Metadata would be things like playlists, play count, your ranking of albums, etc.
Apple lossless will store the data concerning that song as part of the file as tags so it won't get lost. It stores this info about wav files elswhere so it can get lost.
BTW the artist's name is not metadata. Metadata is data about other data. Artist names, album titles, song titles, genre, etc. is just data.
Metadata would be things like playlists, play count, your ranking of albums, etc.