What the existence of this may cause over time is the erosion of movies as "special" things. When everyone can make movies, they'll reduce to an emotional expression in a communication, much like choosing an emoji or gif is when augmenting a chat.
I definitely agree with that. Everyone will have their movie that they want you to watch and you won’t wanna watch them because they usually suck. But some of them will be good and that’s the way it is now with music too so I still think it’s a good thing to enable more creative expression.