People do it for clout or for love. Sure, the Hollywood blockbusters would cease being made but that might be an overall social good IMO.

I agree with Brian Eno who describes how, if we had a universal basic income, we would see more artists creating content just for the hell of it. He also explains how there is no "genius", there is instead what he calls "scenius" where it is an entire artistic scene which breaks new ground but only one or two happen to go viral.