This is a case study of how a software company can still make money in the age of ai.
My guess is that the impact of ai on the business won't be too much as they have a good brand and a loyal customer base whereas the vibecoded ones will have a hard time getting noticed by customers. They will also have a competitive advantage by being able to handle so many different types of files, by being a one-stop-shop if you like. They will be able to attract more customers by handling really obscure file formats and in some cases by being able to do a better job of the conversion (desktop publishing and vector formats are an example). There is probably a power advantage of being able to convert n filetypes to m different formats where n and m are very large.