Why:
1. The logo icon is almost always from a service like The Noun Project. Probably fetched with 'category' of the company user enters. If it's not an icon then the first letter of the company name, why not?
2. The generated logo has the company name in different combinations of fonts, background and foreground colors. A simple algorithm with random value selection can do that. Where's AI in that?
Either AI is not being used at all or not to its full potential at least.
Why don't I see a logo for my product that has an icon like, say Airbnb's "A" or Apple's "Bitten Apple". All I get for my tech product are small mobiles and browser windows.