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?
It doesn’t really matter to humanity if strong people can still win fights, but it might matter if artists and designers who do produce great, original work stop being produced. It probably even matters to the AI models because that forms part of their input.