Photoshop.com may be Flash-y and Air-y with photo-editing capabilities, but it surprisingly still seems to lag sites like Flickr and Facebook when it comes to various sharing features. For instance, only this week has Adobe launched video-hosting and group album capabilities (available for free accounts as well as paid), long available from its competitors.
There are some done-it-better aspects, however. For example, Adobe allows for larger videos: a maximum of 2GB vs. Flickr's 150GB/90 seconds. Of course, the more large videos you upload the closer it will push you to the 2GB storage maximum of a free account. As it's taking forever (it's up to about an hour and still hasn't completed) to process my short 177MB video, however--everything gets transcoded to Flash video--I shudder to think how long a 2GB file would take.
There are still a few UI kinks to work out as well. If you e-mail an invite to someone at an e-mail address other than the one connected to their Adobe ID, there's no way to link the addresses or even allow the person to reply to you with the correct address.
People you invite as Collaborators to Group Albums aren't automatically added as your friends. And while it notifies you via e-mail of updates to the album there don't seem to be other notification options, like posting Twitter, Facebook, or even an RSS feed. (Concurrently with the rollout, Adobe updated Photoshop.com's terms of service. There doesn't seem to be anything objectionable in the new terms. Yay!)
You can see how Photoshop.com's editing capabilities stack up against the competition in.