A system being rearranged is tempting, and yes, a very likely outcome. Hollywood depends on its advantage in production values, which is quickly being eroded by AI.
However, if recent history is a guide, we won't see an increase in the number of paid artists, I'd say looking at the music industry, what we saw was the increase in the number of artists in general, but success seems to me as fickle as ever. Now, apparently, thanks to Ticketmaster monopoly, even live tours barely make any money and musicians are turning to Onlyfans (not porn, just direct support) to make money.
So here's the state of the music industry (partially due to unchallenged monopolies):
You, for the most part, don't make money making music and distributing it online
You don't make money from a live tour either.
Amazing outcome for an industry where the cost of production and distribution has collapsed. No one makes money except for the monopolies in streaming (Spotify) and ticketing (Ticketmaster).
Without monopoly protections, that's what you get. Thankfully, there's a bit more competition in the audiovisual realm with Youtube and multiple streamers. Still, I don't know what to think about what might happen.
Most artists / people in audiovisual production will likely make less money. Some will likely make a lot of money. My (kind of unfounded atm) assumption is that AI will just increase the differences in Paretto distribution of income, making the top 20% very rich and the bottom 80% very poor. Before genAI, you had a very large and vibrant VFX industry, with relatively well paid workers, which is likely to be cut down by huge numbers (it's already been cut by around 50%).