One way to think about it is as a question of microeconomics. There are only so many works by Picasso; the supply is a small finite number. As long as demand f

One way to think about it is as a question of microeconomics. There are only so many works by Picasso; the supply is a small finite number. As long as demand for Picasso works stays stable, the price should stay stable. As for works by AI, the supply is effectively infinite, but the demand is finite, so the price for most of it will be low. (Some clever marketing people will figure out how to make a lot of money on a small number of AI-generated works, but the price of those works will be due more to the clever marketing than rarity. The recent NFT-art bubble is a good example.)