Still the default for anything that has to be handed to somebody else. The reason is not that its generative features are the strongest available - they often are not - but that they sit inside layers, masks and selections. You can generate a background, decide two hours later that you preferred the original, and remove only that step.
Strongest at: non-destructive editing and precision. Generative Fill and Expand handle the AI part, and everything around them handles the part where a client asks for one small change to a file you finished last week. Firefly's training on licensed material also matters for commercial work.
Worth knowing: Photoshop can now route Generative Fill through third-party models rather than only Firefly, which closes much of the quality gap. Which partner models are available changes, so check the current list in the application. It remains a subscription with a genuine learning curve.
Best for: professional retouching, client work, anything with a revision cycle, and any file where you need to be able to undo every decision.