I agree, and I look forward to that moment. I would generally divide the use of AI into two groups.

1. Tools that enhance the quality of the recording - removing noise, correcting tuning or tempo... just post-production

2. Tools that develop creativity - you've already hinted at them, I'd still like tools that automatically suggest, for example, a bass line, drums or even a whole harmony to a melody. Although that might be too much :-). We'll see.

Anyway, what I've been longing and waiting for for several years now, as a person not blessed with absolute hearing, is automatic transcription into sheet music with separation of individual instruments. Instruments built on frequency analysis are not able to achieve such accuracy. Some properly trained model could do it. It's exactly the kind of demanding but uncreative activity that AI is made for.