Almost, the likeliest answer is that CEOs and the ruling class have no fucking clue whether AI can be good enough to replace graphic designers but they also know that this was never the point, automation is a weapon of class war.

Even if the entire industry crashes and decides it does actually have to hire lots of human artists, those artists will be hired as alternatives to cheap AI and graphic design will have permanently been dissected and destroyed as a decent career for hardworking people who may or may not be the most talented people in the world.