Readability, while subjective, plays a large role in software maintenance. Developers will be more reluctant to change code they don't understand, and more likely to introduce bugs. "Long" functions require following large blocks of code that work within the same context, and relying on comments to explain functionality, which could be wrong or outdated, rather than descriptive function names.
Also, "long" functions are typically difficult to test. They either require complex setup and mocking, or are only tested under very specific conditions in end-to-end tests, if at all. Chances are that only users are actually testing them, which is not a good place to be.
We can argue whether "AI" tools help with this or not, but while humans are still reading and writing code, following standard conventions of keeping functions relatively "short", "clean" (whatever those terms mean for you and your team), and with a single purpose, makes maintenance and testing easier, and, in turn, produces more robust and higher quality software.