It doesn't seem to do be able to do anything that Stable Diffusion cannot do, and I bet they put a ton more restrictions too. Other than OpenAI, most of these closed-source AI developments are quite underwhelming.
On this last point, we have really only shared about the model and "playground" which is a web based interface to play around with Firefly. We are working on initial integrations in the tools, and will have more info on that in the coming weeks / months (particularly for Adobe Express and Photoshop).
While you can do a LOT with plugins in tools like Photoshop (which may be enough for some users), we can do much deeper integration into the tool, and integrate it in ways not otherwise possible.
(I work for Adobe)