Right now the lines are kind of blurred between people who make great art, and people who have the technical skills to create nice graphical imagery.
Lets say that someone gets a character design dropped on their desk, and are told to create some graphics of that character running through a field, climbing a tree, jumping through a window, all using the identical style as the character design sheet. I don't really think there's a lot of real artistry going on there, despite the fact that the person with the skills to perform that work today almost certainly developed those skills while creating their own personal art portfolio.
I have not worked in the gaming industry, but what I hear is that a lot of gaming studios today hire up legions of technically skilled people, and grind them to death in sweatshop-like conditions, while not actually utilizing any of their creative talent.
My hope is that this new tech will empower real artists to massively multiply their productivity, so they can focus on creating new beautiful styles, stories, and personalities for their characters, rather than spending all day painting.
It kind of feels like a Gutenberg Press scenario. Before the Printing Press, you had to have thousands of artists transcribing books, copying the images in great detail, and using their impeccable handwriting to ensure that each page was as legible as their source material. I'm sure that back then it felt like thousands of artists were losing their jobs to these machines, but it ended up creating an explosion of literacy and enabled subsequent generations to publish their work at a scale that was never before possible.