Seems about right. Their yearly revenue is $700 million, I don't know about iStock as it isn't public. Any other big ones?
My hypothesis is that it could be a partial replacement/competitor and devalue their offering - reasonable to assume you'd be paying $99/mo soon and it will gradually decrease as the tech spreads and more competitors emerge.
Adobe is also in this game (https://stock.adobe.com), they are not unfamiliar with AI. You can see how a lot of people will jump on this if it proves to be lucrative.
I don't claim to be an expert and I didn't say this is worthless.
