Have you ever heard of "Jukebox"? I'm not referring to the old device, but rather to something totally modern and even futuristic. It is an artificial intelligence software that can create musical works from scratch from various data and audio samples.
Jukebox composed the music and another software created the lyrics for Mitosis, a song that substantially mimics the style of Elvis Presley.
I agree with you. This song is far to be a masterpiece. However, the result is still impressive.
Listening to this song, I notice that the software took into account many important notions of musical harmony . Sooner than later, AI software will certainly be able to create songs that will include more defined structures and hooks, as we are used to hear.
Generating lyrics, creating voices that sound like famous artists and combining everything all together with a melody and chords is quite futuristic, but will it replace the artists we all love? Certainly not! ...well not anytime soon ;-)
Who knows? In a few years, we may be able to get new albums by Jimi Hendrix, Tupac or John Lennon.
But, I seriously think we are getting closer to the day where we will all hum a song created by Jukebox or similar AI software.