Even better, the studios won't have a monopoly anymore on creating blockbuster movies. Some kids in a garage with a cloud service subscription can do the same with their lawn-moving earnings.
It's not "much better quality" so much as "the quality is good enough that you concentrate on the generated content, and the generated content is more fun to watch than anything put out by Disney Star Wars lately".
Granted that's a low bar, but it's early days.