It doesn't logically follow that because something is an industry it must inevitably become an 'AI-generated one', whether that be Hollywood or any other industry. Saying that's so, doesn't make it so.
Hollywood might be amenable to the use of AI as a tool - that seems perfectly plausible, but a complete transition is unlikely. And, Hollywood isn't all movies.
An appreciation of acting is an appreciation of human beings being something they are not, and doing it convincingly. Whether in the theatre, soap opera, opera or films etc
The artifice is understood and sublimated almost unconsciously - this is what most art is - something that looks like one thing, but is in fact another. By removing the human being, art cannot stand at a representational distance from that which it seeks to describe because it's no longer an engagement with a human mind. When we see Pitt and Cruise, we see their characters and the humans behind the characters, we know and hold them both simultaneously.
Use the idea of an AI generated tennis match as an analogy. The match might be fascinating in it's realistic depictions, but what makes a tennis match interesting is human prowess. The fact that we know the players have an emotional world and are human, makes them more compelling than an artificial facsimile.
The prowess of the actor is part of how we view what we see - even at an unconscious level.
There may be some attraction to entirely AI generated movies, but I think they would be understood differently, as a sub-genre of film, just as cartoons are. And judged accordingly.