"AI might put the mediocre ones out of a job though."
But on the other hand, it might put us atrocious artist into a job. I have the artistic ability of a tree stump. I do, however, have ideas, ideas for which I lack the physical skills to express visually. AI image generation might help me--the worst artist in the world--express my ideas.
By extension, I can also see it being a godsend for the physically disabled who want to give artistic visual expression to their ideas.