It's funny that people love to masochistically talk about 20 years ago, the golden age, long gone, and don't realize we're entering into a platinum age now; 1995 on steroids.
Major companies will survive the AIpocalypse, like they did the Webocalypse, at least if they jump on it in time - I certainly remember Hustler and Private's sites (sex.se) in the mid 90s, and they could make a killing AIing their archives - but lots of new players will also rise.
Already most porn AIs out there are created by people with no connection with the adult industry - programmers exploiting an obvious AI use case and lack of competition - just as in the mid 90s people outside porn made sites with dirty pictures and counted wheelbarrows of dollar bills in the mail.
People who announce on Reddit and Hackernews and may have never heard of GFY are pulling in $200k/month within months of starting, more popular than most 'real' porn sites that people have spent years on, while 99% of "the industry" (seemingly everyone but the OP) is still asleep, though hopefully quietly working in the background.
I posted months ago that the way to make money with this is not AI porn but porn AIs, and that people with their own content/archives need to train AIs on it ASAP, but so far, months after non-adult people have been killing it, only one serious example has emerged from within adult, this one. (Very interesting final line in
this post BTW. ;) )
(And serious this is: whatever 'deepfakes' is supposed to mean to redditors or Vice headline writers, to most people now 'fakes' of any kind mean AI generated, just as 20 years ago they meant Photoshopped.)
Porn (as we know it) is simply over. It's gone. It's not just shifting platforms or formats, actual production has changed forever and a completely new industry has emerged.
The only question is how many months or years it takes people to realize, accept and adapt. Forget 1999, it's 1995.