Yes, current AI video/text product is inferior at this time. Youtube is full of all genres of inferior products - at this time!
The ramp of improvement is quite steeply pointing upwards. This is retrospective of the days of spinning jennies and knitting/weaving machines that soon made manual products un-economic - that said, excellent craft/art product endured on a smaller scale.
AI is also taking a toll on the movie arts, staring at the low end and climbing the same incremental improvement rungs. All the special effects(SFX) are in a similar boat. Prop rentals are hit hard. 100 high res photos of an old Studio Tv camera - all angles/sizes/lighting can be added to an AI prop library and with a green screen insert the prop can manifest as a true object in any aspect. There can be many. It still takes people to cull the hallucinations - a declining problem. Same with actors. They can be patterned after a famous actor - with likeness fees, or created de-novo. All the classic aspects of a studio production suffer the same incremental marginalisation - in 5 years = what will remain? - what new tech will emerge?
I feel that many forks will emerge, all fighting for a place in the sun = some will be weeded out, some will flower - but at a very high pace.
The old producers/directors/writers - the whole panoply of what makes a major studio will be scattered like dried bread crumbs,