Being art, is subject to interpretation, IMHO. To me statues are just big pieces of concrete/marble/bronze, etc, that are a memorial to an idea of someone that meant something to them, but to me, are just places for pigeons to sit (or spelled a bit different).
They are much a remembrance of time in the same way their subject matter is a remembrance of time.
Being British equestrian statues, I would not be surprised to see someone saying Camilla Parker Bowles could have been placed under the queen mother.