The point isn't to generate good content "that's worth reading". The point is to generate an endless stream of slop which looks plausible enough to get you ad impressions.
That's picking up pennies in front of a steam roller: Google is incentivized to punish you when the content is garbage, and people are disincentivized to share what you generate.
It's an entirely different game once you can generate useful content worth reading with AI. People will even pay you good money for it.
I don't know what makes you think that Google is incentivised to punish garbage. They certainly don't seem to mind seeing up an endless stream of slop for certain kinds of queries. I don't understand why they'd be more incentivised to serve SEO'd human generated slop than SEO'd machine generated slop.
If you actually look into the "SEO slop", they're constantly fighting a battle with Google to keep their place.
It's all garbage so no one notices when some of it suddenly disappears off the face of the earth and gets replaced with other garbage: but for the ones making it, their revenue essentially goes to 0 overnight.
It's an entirely different game once you can generate useful content worth reading with AI. People will even pay you good money for it.