While it's possible that these AI tools will leave some (certainly not all) artists without work, what I think is really going to happen is that artists will harness them to do new things that were simply impossible before, or to make their work easier. Technology rarely destroys jobs; it more frequently changes their nature. Just like how at some points animators needed to know how to use 3D tools when in previous decades they didn't, in the near future graphical artists will need to know how to use AI. It's possible that where there were previously two artists working there will then be only one, but such is life. Demand for art is finite.
Your comparison to computer animation is apt. Rewatching animated classics recently, I can see what we've lost now that every film is plastic.
So, yes, what you say may definitely happen, but it's a trend some graphical industries have been on for decades. It's why there are so many fewer professional animators anymore. I wouldn't be surprised if some techniques of traditional animation have been lost by now.
We can evolve the market (in my view, into luxury goods with NFT type tech) or we can wait for artists to truly starve. I'm a proponent for solving the problem that can be solved to help folks move forward.