Only some people can make Star Wars (the pinnacle of independent filmmaking if you read Lucas's biography). It has nothing to do with the tools.
IP in the arts is how artists get paid.
I can assure you that no one in the creative industry feels liberated by these tools. Do you realise that just because you are good at lighting, you don't want to be an actor and make a movie? No, you like to be good at lightning, work with others who are good at what you do, and create a great work of art together.
AI imagery only knows what exists. It's tough to make it do innovative technical effects and great new lightning. "oh my god, stock video sites are dead" Yes, exactly; stock, by definition, is commoditised.
Edit: Putin on AI, 2017 https://youtu.be/aJELcvjREgk?t=29
"Whoever takes the lead in this area will be the ruler of the world."
"тот кто станет лидером в этой сфере будет властелином мира"
I think in the initial years there'll be some major incidents where a fake thing gets major attention for a few days until it's debunked, but the much larger issue will be the inverse.
It's terrible news for the people being replaced. Their training and decades of experience is their competitive advantage and livelihood. When that experience becomes irrelevant because anyone can create similar quality work at the push of a button, they're suddenly left with nothing of value in a world flooded with competition.
The tens of thousands of people working in entertainment building other people's visions can now be their own writers, actors, and directors. And they'll find their own fans.
Studios will go away. Disney will no longer control Star Wars, because your kids will make it instead. In fact, the very notion of IP is about to drive to zero.
And OpenAI won't own this. They won't even let you do "off book" things, and that's a no-go for art. Open source is going to own this space.
There are other companies with results just as mature. They just didn't time a press release to go head to head with Gemini.