The REAL Fight Over AI Art

This won't replace anyone, it'll just make artists work faster. Think about it: If you are hired to photoshop a beagle as Louis IV for an ad, it would take you few days to get it right. But with AI, you get the general layout and idea in seconds and can now focus on improving it.
For concept artists: You're not actually hired to do pretty paintings, but to visualize ideas. So you won't get replaced, you'll just do less painting...

Only real issues I see come if you're a more traditional type of artist on Instagram trying to become Loish 2.0: 
You will have bunch of wackjobs claiming "I spent 8 hours on this painting" while all they did was input "Pinterest girl in the artstyle of Ross Draws" in the AI. 
But at that point, it's really just going to be "this artist takes 6 hours to do one piece and this artist takes 6 seconds to do a piece." It will affect commisions and such and people will get "scammed" because they could get the same results themselves at home with AI... Only way to stand out and have confirmation that you're legit is
1. Experience and confirmation
2. Super unique art styles

If your stuff is generic, the AI can do what you do faster.