They do specify that the human’s involvement needs to be more extensive than prompting for a certain image or text. The output itself is not copyrightable. If we are speaking about the process of “analysis” that the ML model does, then the user does not get the rights over it.

It says :

In other cases, however, a work containing AI-generated material will also contain sufficient human authorship to support a copyright claim. For example, a human may select or arrange AI-generated material in a sufficiently creative way that “the resulting work as a whole constitutes an original work of authorship.” Or an artist may modify material originally generated by AI technology to such a degree that the modifications meet the standard for copyright protection.

And you do get rights to your own original analysis of data. That isn't even in question.

This discussion is becoming increasingly overly specific and getting away from my point. My sole concern in all this is what happens to the artists who’ll have to compete with AI?

I guess all I have to say here is that generative models are a free and open source tool anyone can use. It took us 100,000 years to get from cave drawings to Leonard Da Vinci. This is just another step, like Camera Obscura.