If you're defining "serious artists" as some approximation of "people who have made money with their art" then it's clear that there's a conflict of interest here.
Now I happen to be in the camp that believes that AI on its own isn't really capable of producing art (but like a human creating a collage, there can be art created by humans using AI... there is artistic merit in the arrangement).
I still despise that AI is going to be used to strip creators of their labour value, but that's more related to my objection to capitalism than it is to AI.