lol, no. Not autogenerate midi (although their latest versions of BiaB are pretty darn good now) but generate waveforms together. It would be similar to having AI generate whole scores of music but ensuring it's all in sync and in key. Not taking sample database of 88 sound files and triggering them when the midi-note strikes.
That's not how BiaB works at all. It has all kinds of patterns built into it. So, it knows, how to generate, say, a bluegrass bassline in a given key. There are plenty of ways to play back MIDI with high sound quality, including feeding it into an AI-driven VST like NotePerformer.
This is almost the exact approach I took for my project Neptunely (https://neptunely.com/). Working on bringing it to a VST at the moment so it's more portable.