If you want to achieve almost the same for 0.1% of the cost with 1 very talented person and some computing power (or small team of talented writers/artists), it won't take long and Hollywood's business will collapse. You don't need to pay a cent to that old guy in the video.
Current A-listers will slowly fade while milking their residual fame, but more importantly there won't be a next generation in same way it was till now. A major shift indeed, bigger than Hollywood ever saw. If the quality is there it will be unstoppable and unions won't make any difference, next country with more liberal laws can render very same stuff.
As the cost of producing it drops, AI content may come to be seen as worthless background noise to culture and verified human-made media valued.
Also, hand and face issues are rapidly improving, I can easily believe models like Sora getting used for replacing extras despite the flaws it still has.
Why would studio executives bet on some new talent when they can generate Bruce Willis, John Depp or already put their faces on some less known actors in convincing way.
Then they make a reboot of a reboot of previous generation movies and it rolls ad infitum.
but maybe a good point is that live performance may make a come back.
There’s already too many movies and people get bored watching more of the same. If thanks to AI there’s a flood of cheaper mediocre movies content it could kill the remaining excitement.
Because AI Willis can't sign autographs, do press tours, and get randomly sighted by fans. Hollywood is about more than just content, it's about cult of personality, and to have that, you need a living person.
No real fame was achieved about stupid stuff like opening restaurants or random sights in the town, I think we as society can easily live without that.
There is difference where I could make effort to fly to places where they give autographs and meet with fans but I also don't care enough. I imagine people that do care about that either live close by where they can have easy access or are weirdos.