Maybe but I would argue everything you said has already happened many times over. People were probably saying the same thing when cameras were invented. Because why would a people sit for hours waiting for a painter to paint them when they can sit for 30 seconds for a photograph to get taken. That arguably is a more accurate representation.

Or how about computer animation. I am sure many artist lost their job during that switch over as well. Computers could just figure out the in between frames instead of a person manually having to draw frame by frame.

But artists have adapted over the years and now we have entirely new forms of artist like 3D animators and photographers. Even game designers. YouTube Thumbnail creators, ad designers, drone operators etc…etc… Artistes have more way to create art then ever before and have more way to monetize their art. More importantly normal people have more time to consume art then ever before to the point It is almost becoming a problem.

I really don’t see AI as being any different. Sure I am sure it will drastically change the industry and if artist don’t adapt they will be in trouble but that is nothing new. It has happened many times before and will happen many more times in the future. But in every case I would say art has become better each time technology has advanced.