As a professional artist I can tell you this is a paradigm shift. There's no use trying to fight it. It's like pissing in the wind, trying to stand against a crashing tidal wave. It doesn't matter what art is anymore, so much as what the AI makes is passable enough or better to fool the majority of people that will see it as art. Art is as much about provoking emotion or experiencing something as much as it is who (or what) makes it. Art imitates life and art is abundant in nature, which is made by no human. And the AI has no problems fitting into that. Artists argue what the AI is making is "not imagination", and that it's "stealing" or "learning" from real artists without any credit or payment. Well when you can see clear influence or homage but can't pinpoint any one specific artwork the AI borrowed from it's not plagiarism is it? In fact that's what real artists have been doing since time immemorial. Any artists will be lying if they said they didn't study in great detail or even copy a lot of other artists to learn their craft at any given point in their artistic journey. And any concept artist working today will also be lying if they didn't just take stock (and sometimes not so stock) photos and just bash/collage them together then do a bit of speed painting over it and call it a day. Any gatekeeping of the sort against AI doing the same is well intentioned to protect artists but it's all semantics and useless for the practical world.
By Picasso's own definition, AI artists are the greatest artists of all.
In terms of commercial application, this is a huge win for corporations, and number crunchers who want to cut costs. Artists in most industries are hard to keep in line just by nature of being creative people. They are emotional, inconsistent, unpredictable and oftentimes combative. To be creative is to be out of the box, to be individualistic, to be unconventional. The lucky ones reach the top and make stuff that defies all expectations. But the rest of us are just finnicky tools. The push-pull between creatives(artists) and non-creatives (management, HR) happens everyday at every studio I work at. The AI can eliminate all that uncertainty, all that, and give commercial art production at the top what they've wanted all along: soulless factory line products that appeals to the masses, from 100% obedient slaves who won't fight back. Soon most artists will be out of work, and only those who can prove themselves useful alongside the AI providing complementary skills will remain, albeit at far lower wages and far lesser demand.