Another option is that this doesn't replace the student's work, but the teacher's. The single greatest use I have found for ChatGPT is in educating myself on various topics, hosting a socratic seminar where I am questioning ChatGPT in order to learn about X. Of course this could radically change a student's ability to generate homework etc, but this could also radically change how the student learns in the first place. To me, online school could become much more than they are now through AI-assisted tutoring. I can also see a future where "schooling" becomes much more decentralized than it is now and where students are self-selecting curriculum, methods, etc to give students ownership and a sense of control over their work so that they don't just look at it as "busywork".
I agree, but typical GPT use is actually the opposite of the traditional Socratic mode in which the teacher uses questions to guide the student to understanding. But I wonder how it would do if it was prompted to use the Socratic method.
That's the only sane option. The other options suggested in previous comments are not really options but rather trying to use a band-aid to hold together a dam that has already been breached.
Absolutely ChatGPT is a great learning tool if in the right hands. The issue is that students with a genuine interest in learning are a minority. The majority would rather use ChatGPT to cheat through their class work and get an easy A rather then exhaust the effort to chat and learn for their own sake.