We as a society have a relatively healthy setup for people to create art and content. Sure there are problems, but on the whole it mostly works. What AI will do is destroy that by removing the profitability of creating that content.
Although generative AI operates on a similar principle to a human being exposed to a large number of artworks, it does so at a speed blindingly faster, enabling it to outcompete humans at many tasks. The number of such tasks will only increase in the future.
Thus, small-time content creators who make an independent living from content creation will be squeezed out and left in the dark. In some years, it will be very hard to make money from content creation at all.
The access to information and entertainment will also become more anonymous, will most people consuming things through AI generation. Of course, that will be convenient at first, but we will end up with a world where a significantly SMALLER fraction of people controlling AI supply us with everything. (Including manipulative advertising to consume more of their product.)
For every benefit that AI gives us, there are 10 losses.
I used to dislike draconian copyright laws, but now I like them. And I sincerely hope they are used against AI to make AI unprofitable. I believe further that AI will be society-disrupting in a variety of other ways and thus, as a society, we should destroy it. But I am pessimistic.