Generative AI’s growing use in graphic, UX, and other design fields has many professional practitioners, theorists, and design educators wondering whether this rapidly evolving technology will become an adjunct to human-led design practice or a wholesale replacement. Commentaries of varying quality and rigor about generative AI and its impact on design regularly appear in professional trade publications, position papers from respected consultancies, and online blogs seeking to highlight and predict the long-term viability and impact of these emergent and rapidly advancing creative technologies. Not surprisingly, given the human ability to see bright or bleak futures, any review of such materials quickly reveals that the design community has mixed opinions about generative AI and whether it will ultimately benefit, replace, or transform human-led design practice and education. This paper briefly reviews two mutually exclusive scenarios that are shaping the debate surrounding generative AI and its eventual impact on design, designing, and designer—Augmentative and Displacive.