Live music didn't disappear but the industry took a huge permanent culling when any cheap venue could just play a track. The replacement doesn't have to be great to trash an industry. It just has to be good enough for most. This is.
How about the fact that you can go on github today and find a thousand ml based music generators probably, and yet people still like going to concerts and seeing an artist play an instrument.
Not a meaningful comparison. Seeing an artist play an instrument is a fundamentally different experience. It's visual, much more impressive sound, a social experience, and so on.
With imagine generation you just look at output. There's no difference between seeing the output of a human-created image or an AI-created image, people can't tell.
Ok, but you still see people passively listening to real artists instead of ai generated music. Provenance matters for music and for art. Maybe if you design retail art for Target without your name ever put on the work you have to worry.
A better comparison is like saying AI text generation bots will replace authors, or that AI drug testing will replace drug development - which clearly isn't the case. The core issue is that people with no idea what the creative fields offer are throwing their hat in with what they think is going to happen. People with experience are saying the opposite because they know better.
At best, this will remove those websites where you can pay $5 for "a designer" to make you "an image" - is this a loss though? Such things have never been a threat to creative fields.