The problem is not about money it is that we are made massively culturally poorer by the flood of ahistorical, amoral, incoherent, rococco, contradictory yet plausible shit produced by LLMs.

Both the internet and books have been flooded with ‘content’ which appears like human content but has no coherence or intention to it and tends to fall apart completely the longer form the story.

Even our autocomplete is being infected with LLM suggestions, distorting and guiding how people write.

This is a VERY significant problem for our culture long term.

the market they analyse is specifically self-published fiction. Most of the traditionally published books are not AI generated and they make significantly more money as a category than self publishing does. It is not really possible to flood that market in this form with 0 entry barriers.

So yes, allowing AI slop in a market where anyone can publish anything and quality is not a very strict criteria, of course it will dillute the market. But we are unlikely to see this shift in traditional publishing houses.