Earlier quoted context omitted.
Art doesnt cease to be art when new forms of art are materializing. Its up to the viewer.
That wasn't the argument. The argument is that few will watch the majority of WB's back catalogue, because their time is being spent with all the other attention sinks. This places a monetary value on the content, not a social or cultural value.
A flood of high quality AI content might devalue it as it becomes too normal, familiar or expected. In a strange way, this might reinvigorate interest in back catalogs.
Also, some content is truly timeless regardless of its production quality. Our kids have the world’s content at their disposal and their favorite is currently Tom & Jerry episodes from the 1960s. Go figure.