Editing is a craft. You have to watch everything, otherwise you don't know what you have.
A machine organising stringouts and selects can work for interviews, but not for action. But even then it is only parsing your media for semantic intent. It misses the way things are said, which often imparts a different meaning.
You can use AI features for editing. But it is unlikely you will be making anything very intetesting.
For interviews, this saves hundreds of hours. Giant amounts of social content are now interview-like, including podcasts.
Your argument makes little sense to me. For narrative editing, this is a minor help. For interview-like content it cuts work by 30-70% maybe. its probably a gamechanger.
What? It bears no impact on if what you're making is interesting or not, couldn't matter less. People been creating amazing things with nothing, and absolute trash with everything, and also vice-versa, seems to be all up to the person's taste and skill, and less to do with the actual tools they use.
I think your mistake is to assume editing is like painting, where you can just make something brilliant with a few colours and a canvas. But editing is much more analogous to writing a book. If you have read extensively on Ancient Rome and spent time comprehending the subject, you will create something far more interesting than essentially remixing a few primer books and articles that have suggested to you by an LLM.
People have indeed "been creating amazing things with nothing" in the expressive arts, but that approach falls short when the value comes from communicating depth from narrative information.