Is the latest Midjourney now considered better than Stable Diffusion? If so, will Stable Diffusion catch up? I strongly prefer the open source nature and ability to run locally of Stable Diffusion.
Midjourney provides much better images by default. It's really impressive.
Stable Diffusion's advantage is in the huge amount of open source activity around it. Most recently that resulted in ControlNet, which is far more powerful than anything Midjourney can currently do - if you know how to use it.