>artists will just pivot to work with the new tech

I think the point is not so much that it will completely replace artists, even with significant improvements you'd still need an actual artist to come and touch things up and make sure the output is desirable in the first place, but rather if you have 10 3D artists and this new tech makes them twice as productive you can hire half the number of staff.

It may not completely replace artists in anything other than extreme situations, like indie studios that don't mind if the models are a bit iffy or they have to do some work themselves, but it doesn't need to replace you entirely to devalue your work.

It's the same with most new technology. Automation lets you do the same amount of work with less staff, and typically with less skilled staff at that.