I agree. Off the top of my head, the most important new features they introduced in recent years were:
Krita: A new brush engine. A new file format for brushes. Some animation features that I don't use. New text system.
PS: AI-based object selection. AI-based neural filter. AI-based generative fill. New Javascript API for plugins.
It's quite clear that Adobe doesn't see PS as a digital painting app, but an (AI-assisted) image manipulation app.
I think that Photoshop is an image manipulator first and foremost, and Krita is a tool for drawing/painting, maybe doing some light traditional animation although even that is not it's primary focus.
I think that CSP, Procreate, etc... are more direct competitors to Krita. Photoshop is a competitor to Gimp.
Again, does not change anything about raincole's comment, and I don't think that raincole was suggesting that they were direct competitors. It's just that whenever Photosohp and Krita get mentioned in the same sentence I feel like the assumption from many readers is that they're trying to do the same things, and I would personally say that I think they're separate categories of applications. There are things that Photosohp does that Krita doesn't want to do and will probably never support, because it's a painting app, not an image manipulation app.