What will happen in this case is that large content providers will get paid directly and smaller content providers will get rolled up into a licensing bag and get small indirect payouts. For example, we might see a model where people who's books have been used will get a pay out proportionate to the sales of the book (perhaps), so if your books sells just a few thousand copies expect $20 but if you sell millions expect $20k
LLM's will become more expensive and less attractive as money printers, this will screw with the business models of the direct provision folks like OpenAI, MS and Google, MS and Google will only shed tears for money spent while OpenAI will just not have as good an income stream until they think of something new.