There are certainly upsides and downsides here. I'm talking specifically about digital art. The printing press also made art more widely available, but there's something about the digital form that's especially hollow. It's like the cheap CG you know is fake in movies. We have a harder time relating emotionally to computer code than to crafted, physical objects.
It's a question of overexposure, like the celebrity who's on too many magazine covers. A limited print run preserves the preciousness of the original, but when something is mass-produced, it seems more like a manufactured product than like a work of art. It may still perform its function, but mass-production seems to spell the death of art, as Andy Warhol may have shown.
Or it's like the uncanny valley problem with cloning. When you have so many perfect copies, you start to wonder whether even the original is a charade. This will likely happen with AI. If we can produce artificial intelligence that passes the Turing test, this will amount to a downgrading of human mentality, not just because the AIs may take over our social functions, but because we'll suspect we were never sacred to begin with. We were a trick of mindless, natural processes.