True, there is dignity in any kind of labor but like it or not, society will always judge you. Starting from how you look, to how you dress, to how you behave, to the cars you drive, to the house you live in, to the electronic gadgets you own, you are being judged. It's one thing if you decide that you don't care about the society and will do as you please. But if you covet some kind of a social standing, if you care about what others around you think of you, if you crave for worldly pleasures, you have to go the established route and aim for having a viable, rewarding career.
If you possess extraordinary skills in fine arts (drawing, painting, literature, architecture etc) or performing arts (music, dance, theater etc) then a gainful career is probably awaiting you; in which case go with arts and further hone your skills. Talk to your well wishers and obtain feedback from them; try to put your skills thru a battery of tests designed to highlight your strengths and weaknesses. You should know where you stand and what you are good at.
But otherwise, there's a reason why the admission process to undergraduate courses in science, technology, engineering and medicine at premier, Ivy League institutes is more exacting in nature. It is because most students opt for these courses and aspire to have a lucrative career after the course completion.
If you Google for the best undergrad college degrees by salary, most likely you will find some engineering degree at the top and a fine arts / drama / music course at the bottom.
Now, could you take up arts and still become a successful person? Someone who is rich and famous? Of course! Could you take up science or engineering or medicine or technology and still fail in life? Of course!
It's the risk we are talking about. Are you risk averse? Are you willing to take risks? You are the best judge of that.
Disclaimer: Above views are from a materialistic point of view. I personally don't care about anything anymore, least of all society.