we already have a lot of fabricated content like that using current photo editing technology (Photoshop) and it's not causing much legal nor moral issues
Because it’s still pretty hard to make it and it’s bad - you can easily tell it’s fake.
This makes it as easy as typing a sentence - and the quality seems fairly realistic
Considering where the progress on deepfakes is at, I'm going to have to disagree on both counts of "hard to make" and "easily tell it's fake".