Yes and no.
You wouldn't call your business wabi sabi.
That would be like naming your martial arts class 'Deterioration Tai Chi'.
Wabi sabi embraces the melancholy as well as the upbeat aspects of life.
Your favourite Uncle has died and you smile at their memory; happiness and love
tinged with regret.
An old pair of shoes look broken down and useless but you enjoy their comfort
despite their fading functionality.
A vase has a crack in it and can no longer hold water but you can't bear to
throw it out.
An old bucket in your garden has rusted in the rain and has a hole in the side.