There is a long runway of human guided ai generation. Imagine if a single human was able to produce an entire animated TV show and all it took was good story telling skills without requiring 100 animators.
Something I think about a lot is video game creation - what if AI tools let you quickly create 3D objects and a world without a big, dedicated team of artists?
(Check this out by Nvidia! https://m.youtube.com/watch?v=5j8I7V6blqM)
I suspect there was similar wailings and gnashings of teeth when photography was invented. Humans adapt and it's us that decides what to value. We are quite fond of other people so tastes will alter to preserve that balance.
The career path for an artist trying to find something else while AI is developing at this pace is...less clear, and definitely scarier.
Same goes for this really, but perhaps even more so. It's impressive at producing eye-catching photos quality images of simple concepts you might use in advertising campaigns, and can do a good job of reproducing well defined cartoon styles. But the artists working in those sort of roles are already working digitally and using image libraries, and this is a massive productivity boost for them - dozens of "$brand on beach" concept images for no effort at all, and they'll still need all the retouching and layering and colour balancing and combining with other images. And as soon as the brief gets more precise about details of layout and colour scheme or what they want the model to look like, they're either back to their original creative flow or designing text prompts and curating images for the brief is an advanced skill in itself. Non artists can produce "good enough" images too (looks great for memes), but much like non-artists wielding cameras they're mostly satisfying their own whims rather than competing with the business of art
An unpaid intern adding text to AI generated images would be trivial.