There have always been more people creating than creators accepted as artists. Perhaps photography is just catching up with other popular arts. Personally, I think improving the quality of what is out there is only going to raise the quality of photography in general, (which is good) but perhaps it means those with genuine talent will "rise to the top" and that recognition won't simply be a function of one's ability to purchase expensive equipment.

It's not the camera that takes the photo, it's the guy/gal behind the camera. You can have a 1000 dollar camera but if you don't have the eye for the composition, all that technology won't make it a better photo. I have seen some awesome work in Dallas by photographers with high end cameras.

As for your question, I think the pros/ artists will always find new ways to push their chosen media that will distinguish them from from the regular joes. Back in the day, oil painters used to have to make their own paints, the paint in tubes came out, and anyone could paint. Did we see a burst of people painting like michaelangelo?