All of us artists woke up in the world where the thing we were learning to produce all of our lives became 100x cheaper. I've been kinda waiting for this to happen for truck drivers or translators and was honestly surprised that it got to the artists first. But, there's nothing to do now.
There will be a lot of takes trying different ways to deny this reality. Like if we agree that this thing is immoral or anti-cultural it will go away and our potential customers will forget about it. I think that it's a waste of time The industry is not completely gone, but it will go though a massive transformation. The basic hierarchy of artists will probably stay the same - people who were good in the pre-ai era will still be good working with the ai. If you've learned your basic skills right - they will still work.
I've personally already changed my workflow to use ai art for the sketches, ideas and references. And then polish them to commercial level using my old experience and skills. It's funny how this thing is so new, but I've gotten so used to it that it's already hard for me to come back to my old set of tools. And I do recommend all other artists to do the same and to try to find their place in the new reality - it really seems like there's no other way.