The lack of empathy is incredibly depressing...
a) the panic is entirely misguided and based on two wrong assumptions. The first is that textual input and treating the model as a function (command in -> result out) are sufficient for anything. No, this is a fundamentally deficient way to give artistic directions, which is further handicapped by primitive models and weak compute. Text alone is a toy; the field will just become more and more complex and technically involved, just like 3D CGI did, because if you don't use every trick available, you're missing out. The second wrong assumption is that it's going to replace anyone, instead of making many people re-learn a new tool and produce what was previously unfeasible due to the amount of mechanistic work involved. This second assumption stems from the fundamental misunderstanding of the value artists provide, which is conceptualization, even in a seemingly routine job.
b) the panic is entirely blown out of proportion by the social media. Most people have neither time nor desire to actually dive into this tech and find out what works and what doesn't. They just believe that a magical machine steals their works to replace them, because that's what everyone reposts on Twitter endlessly.
This is the first wave of half decent AI.
But more importantly, you are vastly underestimating the millions of small jobs out there that artists use as a stepping stone.
Think of the millions of managers who would happily be presented with a choice of 10 artistic interpretations, and pick one for the sake of getting a quick job done.
No way on earth this isn't going to make a major impact. Empathy absolutely required.
One can see AI tools as progress here while also recognising that this is likely to have a huge impact on a lot of lives.
I do wonder what happens as the market for the “old way” dries up, because it implies that there is no career path to lead to doing things better - any fool (I include myself) can be an AI jockey, but without people that need the skills of average designers, from what pool will the greats spring?