I don’t want to claim that creating the right image is no effort.
I want to focus on the creative part of the process where the message is expressed. Internet memes are almost by definition low effort to create, since anyone can use a meme-generator or use an image creation tool to use a well established template. That means you can focus on the message/observation that the image should convey.
I can’t paint that well, but I can make jokes about observations I make. That is what I consider to be the creative process that matters in meme communities, since the actual images are ripped from stock images or pop culture.
AI art makes it possible to create images that most people wouldn’t be able to create by hand (or more traditional image creation software). But that part isn’t really important in meme communities, where the form is less important that the message.
It’s kind of the problem with AIs in a nutshell: All form, no context or meaning.