I do wonder if that's already happened, that we've lost touch with art already, to some degree irrespective of the influence of AI.
Art changes constantly, of course, and it's value is in the eye of the beholder, but the democratizing influence of computer tools means that the required skills to create art are arguably much more easily attained.
Now, some might argue that art has never been in a better place (I don't know who) and that everyone should have the chance to create art, and that modern tools allow people to produce work that has the same aesthetic quality as the most skilled artist. Why should you have to learn how to control a brush to create a painting? If you can get your idea on a canvas, isn't that the most important thing? Is the physical act of placing paint on a surface the art? If the idea is the main thing, does it matter if it's Photoshop or a palette that you're interacting with, is there a difference?
We're at a point where I think most people would say that creating in Photoshop is as valid as using real paint. A few years ago, some would have said that Photoshop wasn't what a real artist would use. In a few years time, it's possible that people will consider partnerships between creatives and AI as just as valid.
"But is it art?"
I suspect that new art that will satisfy all will be available for a long time, but that perhaps some things will become more and less popular. If you love it, support it, I guess.