wix's price has been going down since early 2025 mainly because of the AI threat (why would you use a web builder if Lovable can build your website with a prompt).
I've never believed in this narrative because even though AI can help you with building it, many builders do need an intuitive interface to iterate quickly on a webpage.
And the latest quarter is confirming my hypothesis: with 304M registered users, they beat even the best growth case scenario 303.3M ( \[https://app.rast.guru/?company=Wix\](https://app.rast.guru/?company=Wix) ).
Are there any other red flags than AI threatening Wix's existence? What am I missing?