If art for you is primarily centered on fidelity of implementation (i.e. "craft") then you will be very threatened by AI, particularly if you've made it your livelihood. However, if your art is more about communication/concepts, then you might even feel empowered by having such a toolset and not having to slog through a bunch of rote implementation when developing your ideas/projects. Not to mention that a single person will be able to achieve much much more.
I feel like it's possibly a good thing for art/humanity overall to stop conflating craft with art, because new ideas will rise above all of the AI-generated images. i.e. splashiness alone will no longer be rewarded.
In an ideal future when we all live in the Star Trek universe, none of it will matter and whoever loves crafting stuff can do it all day long. Until then of course, it's tragic and lots of people will be out of jobs.