Everybody seems to be saying this, but I really don't think there's even 50% chance of it happening.
Google books was fair use because it was a public benefit and did not take away from publishers or authors, to the contrary it helped people find their works.
Compare generative AI which extracts the essence of people's works and recreates similar works (in terms of style, etc) while cutting out the original authors completely. This potentially denies them the fruits of their labor. It's notable that it's a purely mechanical process and no human creativity is involved, except that which is extracted from other authors. Mere prompts don't count.
The argument you're suggesting will hold is essentially "yes we're using copyrighted works, but we're doing it at scale and blending it, so that's ok".