I think all those Steve Spielbergs hiding among the 8 billion - without connections and without hollywood names, having their day without getting filtered out by investor gremiums playing it safe - will produce enough material to be happy cineast for life.
Many Internet technologies like Youtube or soundcloud gave content creators direct access to an audience. If you were funny/creative/talented/attractive/in the right place at the right time/etc you could cut out the middlemen and capitalize on that directly. What is the hidden talent these Spielbergs possess that AI will enable? It's doing the writing, videography, etc. I imagine at most these hidden Spielbergs will be filtering output, like looking at a book of wallpapers and choosing what they like. Maybe some great movies get made, but it will just be the result of selection effects on the sheer number being made.
Yeah, ChatGPT both being able to generate conversational text AND act like a terminal absolutely blew my mind - far more than I ever would have imagined the approach would scale to st the time. Since then there have been more impressive tasks accomplished but nothing which put me into the same state of pure amazement.