In theory, it is also smarter at learning from its training data.
Not really, it's a cascaded diffusion model conditioned on the T5 encoder, there is nothing really in common, unless you mean that using a diffusion model is "SD style".
Yeah, it looks exactly (architecturally) like Imagen.
Google would be running circles around everyone in Generative AI (maybe OpenAI would still have a better core LLM, maybe, but portfolio-wise) if they simply had the ability to cross the gap between building technologies and writing up research papers on them and actually releasing products.