Maybe depends on the industry? Let's say there's a huge need for actually talented software devs -- then, among them, no jobs gone, 5x productivity.
Whilst ... Graphics designers? A small % of them captures large shares of the market (eg good marketing, automation, winner takes it all?), but most end up without a job
Or more businesses and people can afford graphic design and use it to their benefit.
If ML-powered tools will continue being available and affordable (and I don't see how they won't), that effectively erases a possibility of monopolies on overlaying markets. How can small % of graphic designers capture large market share while there will be tens of thousands wannabies behind their backs?
How? If they provide a good product/services, and are good at marketing, branding.
As an extreme example from another industry, think about Coca-Cola -- their coke isn't that magically much better (if at all), but their marketing is? And try to start a new bubbles drink, that'd be hard
There's no such thing as a graphic design marketing. It is oxymoron, like "oil painting marketing" or "woodcarving marketing". Every creative craft has names, not brands (let's left "personal brand" bullshit to lifestyle yoga coaches).
But all companies do marketing (or sales) to find costumers. Graphic design companies do marketing (or sales) to find their customers.
Painters and artists do marketing, to get people interested in their art and exhibitions.
When you say "oxymoron" I think there's a misunderstanding. I didn't mean that they would do marketing about wood carvings in general, but instead for their own company and their own things they sell.
Or the whole industries are getting 5x more productive.