Comment by bitL

You are missing the point. It's fairly easy to replace Photoshop's layering, color correction, filters etc. by a regular software engineering. Where Adobe had extra edge was their retouching, masking and content filling ability. That is now going to be possible to incorporate anywhere by stable diffusion et al. Now Adobe will still have foothold in "legacy" projects with proprietary formats but all the new entrants will have no need to use it. Suddenly folks in Affinity/Serif can add those missing features and continue carving out more from Adobe's market share the way Japan went from crappy manufacturing in the 60s to bleeding edge tech in 80s.