Midjourney makes money selling access to their model. Midjourney's model, like those of OpenAI, has no value without the training data. In fact, the model is a derivative work of all of the works that it was trained on. The training data was obtained without license to resell or create derivative works.

While I hate how much the Mouse has screwed with IP law and prevented productive reforms, I hope they refuse to settle and get a judgement that bankrupts Midjourney and establishes the precedent that AI companies have to follow the law and make licensing agreements with any creator's works that will be used. Can't exist as a company if that happens? Boo-fucking-hoo. It's not society's job to subsidize the wealthy's desire to run a business model that depends on violating the law and causing financial harm to artists.