There are several drawbacks like a more strict system pre-prompt, 15 messages limit for conversations, and some kind of 24 hours ratelimiting if you use it too often.
Want an LLM-enhanced search? perplexity.ai is actually pretty cool
Want to generate images? There are a ton of free Stable Diffusion sites (for example you.com has that built into their chat), or run it yourself.
Want a neat chat experience? ChatGPT is free, Bard appears to have a shorter waiting list than Bing, and Alpaca runs on regular hardware.
Bing doesn’t have a big enough moat to force me into using their app. The LLM space is legit competitive and a company can be ahead in the morning and left in the dust by the afternoon. In my opinion, this is what’s happening with Bing at present.
Who knows though? Bing might make Chat open while I’m writing this sentence and I’ll have to adjust my opinion accordingly.