Art, in terms of creating a beautiful rendition of some part of the real world or even a fantastical but recognizable scene has not been a big part of the mainstream capital-A Art market for over a hundred years. Nobody cares if you can paint really well or whatever. Art schools churn out thousands of people a year who can do that.

Artworks since at least Duchamp have been more about some abstract concept rather than a nice painting.

Now if ChatGPT can churn out convincing BS about why taping a banana to a wall or something is a piece of revolutionary art, then artists will really be in trouble.