On the one hand, the ability for Star Trek's Holodeck to create large amounts of content from a few terse natural language instructions is look less and less implausible.

On the other hand, I feel like this will ultimately be kinda like traditional procgen algorithms: once you've seen enough of what it produces it all starts feeling very bland and same-y. Sure, the AI may be able to produce a feature-length movie based on the input "What if Nicolas cage had played The Terminator and Aaron Sorkin wrote the script?", but somehow none of it would be surprising or interesting to you, it would lack the novelty and playfulness of a good human creative work, and it likely would be very shallow in its themes.

On the gripping hand though, perhaps in achieving that level of sophistication we inadvertently create something more alive and aware than we intended and instead of merely trying to produce satisfactory results it actually attempts to express itself in ways that resonate with us.