Yeah Stable Diffusion, Midjourney and the ilk are going to automate away some of the art jobs, or at least some of the workflow involved in art (concept art etc)
related: book tour by Rebecca Giblin and Cory Doctrow to discuss their new book, Chokepoint Capitalism! -- This conversation will explore a call to action for the creative class and labor movement to rally against the power of Big Tech and Big Media.
I think it's just going to turn people back into farmers and just doing things that are necessary for their survival rather than participating in an economy that no longer gives them a way to provide for themselves, people will just do what is required to get by.