Like many others, I am against banning it, but fully in support of tagging it.
Some stuff from AI is quite good, while other things are crap. But it is best to have people decide if it is acceptable or not, rather than ban it outright. If it is bad enough, people will not read it, or will even report it depending on content, while the good ones will keep those who find them, eventually becoming more popular and leading others to consider them.
Similarly, AI art can be very good at times, and I highly recommend it, though one should put some effort into it to get a good result. The cover for my story was from NightCafe's AI art generator, though it took several days to get high enough quality to share it. I assume AI writing will be similar, requiring multiple attempts and refining the output to get a solid end result.