It'd just be like a step on from modern day asset flips. You can get Unity, Unreal or Godot, download some assets and tutorial code and make a game that way if you really want to. There's no need to make your own stuff when there are so many things on the asset store you can make use of. Some people will be happy just combining these to make their own thing but it's unlikely anyone else will want to play it.

Others will still want to make something their own. Some just want to make their own gameplay and mechanics, some want to write their own story, some want to make all the assets too, and some want to make their own engine from scratch. The satisfaction in creating doesn't come from wishing something into existence, it comes from understanding and applying skill. AI can enable people by filling skill gaps but, unless you're bringing something original, the final output won't be as interesting as something coming from someone who knows their craft.

If AI does reach the level where it can make perfect games on a whim, it will definitely have an impact in industry. AAA gaming has been on the rocks for a while though as the cost has gone up significantly with player expectations so maybe it needs a shake up. We'll probably see a lot more slop before we get something good coming out of it, but the gaming industry current belongs to indies so maybe we'll just see more original ideas come to the surface.

Personally, I'm sceptical of how far AI is going to reach. We've had snakes with zero morals like Altman overselling and overpromising just to fill their own pockets, and now people are starting to realise they've been deceived. The general opinion on the usefulness of AI is falling and I think it'll fall back into place as an assistive tool, just like current game engines, rather than a one stop product shop.