According to my philosophy, it's going to be liberating for people. I completely disagree with any philosophy that believes that a massive proliferation of deepfakes will over the long term cause people to believe crazy things. A proliferation of extremely high-quality fakes will educate the public about detecting fakes, and spark an increase in the value of the real.
Real relationships: the people in your life that you know things about that they don't even realize you know, people that you know things about that they don't know or acknowledge about themselves. People you can trust because they're sloppy with you, as you are likely sloppy with them. People who also see your blind spots. People you control through their consciences rather than your advantages.
Real relationships are the things that companies and governments that operate with long chains of authority imitate asymmetrically - they get all the advantage of knowing everything about you, you get to know nothing about them except your obligations and responsibilities. Real trust comes when people mutually expose their attack surfaces to each other, over the long term, and can formulate reliable hypotheses about what would happen in future hypotheticals. Listen to me, being romantic.