What a great thing this didn't exist in the past. We likely wouldn't have had any of the amazing artworks that we have now. Imagine an AI generated Mona Lisa, Nightwatch or Sistine Chapel ceiling because prompting would have been so much cheaper than paying Leonardo, Rembrandt or Michelangelo... Now extrapolate to all other artforms. Sculpture seems safe, for now, but only barely so.
I feel like the complete opposite is true. Artists aren't doing it for the money. With advanced tools like these they wouldve iterated much faster and created much grander designs. Art is about pushing limits of what's possible and AI just raises those limits.
That's engineering, if that.
Art isn't, and has never been about that.