Is copywriting dying/dead?

Title says it all. I know nothing about the copywriting market on either side of the business and I'm not really interested in getting into it ATM, I am simply curious.

As a writer myself I know that tools like ChatGPT and Claude can now write decent prose (though it's usually mediocre unless you prompt very heavily). I'm not an amazing writer but I still consider myself a better writer than AI LLMs for long-form stuff like a report or a blog post or a short story.

But that said, I imagine plenty of companies who just need a bit of copy writing done are happy to take free mediocrity from a computer rather than pay a guy who charges by the word.

So what is the current status of the business?