There'll be a lot of low effort stuff but there's also going to be a torrent of good work done with it. A lot of people seem to be missing the developments in these tools that allow you to take the initial result and then shape it through further prompts or by running it through other tools. If you're willing to put the work in to guide and polish the result you can produce some pretty good work with much less effort than it would normally take.

I wouldn’t mind if a separated genre springs up, labeled AI generated or such. The problem I have is as you said, I don’t want cheap content masqerading as human made. Human content can be cheap too but automating that away would send a torrent of trash upon us to sift through