>The open source community is doing more with GenAI and they're doing it better.
Stable Diffusion is extremely cool and is a great project, but it does not compare favourably to Midjourney[1] or Adobe's offering. On the LLM side, StableLM is terrible compared to competitors. Some other "open source" models aren't open source at all, but instead were the "this doesn't compete so let's just dump it in the open" reactions.
Add that Adobe has a moat of legally licensed content that they used to train their model, which might turn into a massive differentiator if penalties fall hard on competitors.
[1] - A lot of people speculated that Midjourney used Stable Diffusion, but the products have veered so completely away from each other, the former just dramatically better for almost any prompt, that if they started with it they have made enormous improvements.