That's going to be an issue of regulation and cost - not some arbitrary decision over 'whether I should make an image or just use text'.
Second - there are really not much in the way 'social or moral implications' for the most part.
This is a dystopian delusion that I'm hinting at here.
Folks are blowing this way out of proportion, and cynically so.
People now have 'automated Photoshop' and a slightly more power to express themselves. It's not going to change that much, and it's not a bad thing, it's a good thing. Mildly.
Checks and balances in trust still exist, believe it or not.
More and more people are getting caught up in weird echo chambers, extremist groups, and spewing misinformation. The amount of pure slop on Facebook, either for engagement or manipulation is so high, there is more fake content on FB than real content. The conspiracy side of me believes the CIA is deliberately forcing us against each other, but even if no underlying entity is behind this, the same outcome is happening. This is a byproduct of both Social Media & Generative AI.
Citation needed.
More to the point: both can be bad. We don't let people run stop signs because running red lights is worse.