[imiric]

I think both things will be true. We will enjoy common media that everyone else enjoys, not because of its high quality, but because it's shared shared within our social circles. And we will also generate highly personalized media for our own enjoyment, because we will have full control over it. The quality of this media won't necessarily be "garbage", and will likely be on par with professional productions. It will just be much more personal than anything a professional team could create for us.

Though a reason we would gravitate towards common media more is if what someone brought up in the comments here comes to pass, and celebrities/actors license their likeness to studios only, and amateur tools are not licensed to use them. Though I think there will always be crafty/illegal ways around this. Also, likeness probably won't be worth much, if we can generate any type of character we like anyway. I, for one, couldn't be happier for celebrities and the cultural obsession around them to disappear.