I do agree that worse but cheap will be used a lot right now. But we also have it already with outsourcing, and not everything is outsourced.
Signaling theory provides a useful perspective here. If everyone has access to the same tools for thought, then everyone can arrive at the same output independent (mostly) of skill. That means the value of any one computer generated output will crash towards an average minimum. Society will notice and reward the output that is substantially better and different, because it shows that someone has something far better than the rest of access to or are capable of doing. This is even more heightened when the markets are flooded with AI slop. It’ll become obvious and distasteful.
Those with skills and ability to differentiate will continue their existing ascent.