I couldn’t tell you for sure, because I don’t use it or its commercial competition very much. That said, personally when I have needed to use it, I’ve always found the gap between Audacity and its pro equivalents in terms of basic usability to be much lower than in other creative fields. GIMP, in particular, is nigh unusable compared to Photoshop.

If you’re interested in seeing more, here’s a video where the new lead announced that he was taking it over. And the official Audacity YouTube channel has been posting overviews of its updates since then. I think it likely that the first two updates (3.1 and 3.2) contain some of the most critical functionality.