The escalating threat of phishing emails has become increasingly sophisticated with the rise of Large Language Models (LLMs). As attackers exploit LLMs to craft more convincing and evasive phishing emails, it is crucial to assess the resilience of current phishing defenses. In this study we conduct a comprehensive evaluation of traditional phishing detectors, such as Gmail Spam Filter, Apache SpamAssassin, and Proofpoint, as well as machine learning models like SVM, Logistic Regression, and Naive Bayes, in identifying both traditional and LLM-rephrased phishing emails. We also explore the emerging role of LLMs as phishing detection tools, a method already adopted by companies like NTT Security Holdings and JPMorgan Chase. Our results reveal notable declines in detection accuracy for rephrased emails across all detectors, highlighting critical weaknesses in current phishing defenses. As the threat landscape evolves, our findings underscore the need for stronger security controls and regulatory oversight on LLM-generated content to prevent its misuse in creating advanced phishing attacks. This study contributes to the development of more effective Cyber Threat Intelligence (CTI) by leveraging LLMs to generate diverse phishing variants that can be used for data augmentation, harnessing the power of LLMs to enhance phishing detection, and paving the way for more robust and adaptable threat detection systems.