50,000 new songs are uploaded to Spotify every day. On Soundcloud, it's over 120,000 per day. Is Seth not aware that people were already making lots of music, and that more music is released beyond Drake and The Weeknd...?
There is already "too much" content to consume, for some definition of too much. If AI-assisted music creation boosts the number of songs on Spotify from 50,000 to 500,000 per day -- does it really matter? If you're an artist who doesn't have a fanbase, you're currently releasing music into the void, and you would be in a world of AI-generated music spam, too.
Making a popular pop song is 10% about the song itself and 90% a combination of marketing and luck. AI isn't going to change this. Thinking that people are going to stop listening to Nicki Minaj or Taylor Swift because other music exists is, frankly, really stupid.