Without igniting a huge flame war, this reminds me of (most) designers’ impressions of rapid prototyping. Both generative design and rapid protyping technology seem to have a “well, it lessens my importance as a professional, so it must not positive” reaction.
That said, a couple thoughts on generative design. I don’t know much about it, but I can certainly imagine that it would be useful in design (as opposed to art). Assuming that I understand it correctly, it seems likely that various inputs (length, height, width, specific features, etc.) could be put together with standard template-like functions to create a product (most likely in less time/with less effort than a designer could give.) Of course, that wouldn’t work for extremely specific things.
Art, on the other hand… maybe not. I appreciate art because it took skill to make it, not necessarily because it “looks cool” or follows artistic algorithms. That video about generative art didn’t do much for me. I’d appreciate it more if a person actually made it. But maybe that’s just me, and I’m not really one to think that mass-produced objects are as “artistic” as individual pieces, so that probably distances me from some people.