Like Crypto and electric cars, it's a trend that's trying to be mainstream by weird techbros who'd deepthroat anything with the premise of "FUTUREEEE".

Though I do consider it art in a subjective kind of way. It's not human, real, art but it's still art nonetheless.
I don't think it's going to replace real artists anytime soon. Not even in a million years.
It's probably going to die out in a few months.

also I saw that twitter post of some dude winning a digital art competition using AI art. That's just straight up cheating lmao. it's like hiring a rocket scientist to do your 5th-grade science fair project for you