Photoshop doesn’t use AI models to generate new things for the artist, photographer, whoever (it does have generation of course, but not in the same way). A tool like Photoshop for text, in the way described, seems more like a writing aid than a writing tool; something I can give vague commands like “make this paragraph more academic” (whatever that means), and it’ll spit out something approximating the academic style it analyzed. Whereas “auto balance the levels of this image” is much more concrete in what it means, there’s no approximation of “style.”
I feel like Photoshop for text should be an editor that cares more about the structure of stories and who’s in them, with ways to organize big chunks in easy ways, rather than something that generates content for you.