I think beauty is a psychological approach.What I feel beautiful may not be thing of beauty to others.For all men girls will not be beauty queens.
But "a thing of beauty is a joy for ever"
There are lot more beautiful things than girls but yes as a human being its natural for all boys to get attracted towards girls and I am sure girls get attracted towards handsome boys too. So its a give and take offer.
Beauty lies in the eyes of the beholder...like Abid says it is mostly psychological, the person you like for his or her different attributes and nature will look beautiful to you!
Beauty can be classified into two categories... Internal Beauty
External Beauty
Internal beauty : WE will come to know internal beauty of a person when we know the person very well. More you know the person More you know the internal beauty.. It needs well understanding about the person. Need to be in constant touch with the person.
External beauty : It is the physical appearance of the person. His/Her physical figure. It is more stylish.
But when we say a person is SMART. Both beauties play a significant role to make you smart for example How you look, how you dress, how you behave, how you talk, how you represent yourself etc.
Just now I have formulated it..you are the first one who read it. :)
come on Kumaresh, no one will study some theory and appreciate beauty. The thing that feels attractive to some ones eyes seems to be beautiful to him/her. Any way your theory is interesting. I think people give more importance to the external beauty.