From what I learned over the years: AI isn't likely to destroy income for entry-level artists. They destroy the quagmires those artists got stuck in. The artists this will replace first and foremost are those creating elevator music, unassuming PowerPoint presentation backgrounds, Stock photos of coffee mugs. All those things where you really don't need anything specific and don't really want to think about anything.
Now look how much is being paid for those artworks by the customers on Shutterstock and the like. Almost nothing. Now imagine what Shutterstock pays their artists. Fuck all is what. Artists might get a shred of credit here and there, a few pennies, and that's that. The market AI is “disrupting” as they say, is a self-exploitative freelancing hellhole. Most of those artists cannot live off their work, and to be frank: Their work isn't worth enough to most people to pay them the money they'd need to live.
Yet, while they chase the carrot dangling in front of them, dreaming of fame and collecting enough notoriety through that work to one day do their real art, instead of interchangeable throwaway-stuff made to fit into any situation at once, Corporations continue to bleed them dry, not allowing any progress for them whatsoever. Or do you know who made the last image of a coffee mug you saw in some advert?
The artists who manage to make a living (digital and analog) are those who manage to cultivate a following. Be that through Patreon, art exhibitions, whatever. Those artists will continue to make a living because people want them to do exactly what they do, not an imitation of it. They will continue to get commissioned because ´people want their specific style and ideas.
So in reality, it doesn't really destroy artists, it replaces one corpo-hellhole (freelancing artist) with another (freelancing AI trainer/prompter/etc)