It will probably be okay, right?
I’ve been playing with Midjourney this summer and have come to the same conclusion. I think there were similar fears when photography was new, but then Impressionism was born.
I do hope it shakes out like this. I use midjourney to illustrate my substack newsletter quite extensively. It's more evocative and visually arresting than what I could accomplish myself.
I would absolutely prefer to hire a human artist, but don't have the budget to commission someone every week. (if I ever got to a financial position when I could, that's what I'd do)
It developing into useful tools, alongside all the rest, is I think where it'll go - at least in the short term. I'm already finding some interesting instances where AI generated art inspires my writing in a small way: a visual detail here and there.