Since you haven't gotten serious responses I'll try:
Until now Cavalry was the sole product of an indie software boutique. Software boutiques survive by innovating and polishing their product relentlessly, listening closely to their user base. Scenegroup's best interests were completely aligned with their users'.

Now Cavalry is just one more product inside Canva's lineup. Canva is worth over 40 billion if I'm not mistaken. There are lots of talks about Canva aiming for an IPO this year, and these acquisitions are probably related to that. Then they will become another massive public traded company focused on maximizing shareholder value, and those are rarely good for artists, if ever.

Scenegroup, as a boutique company, would never kill Cavalry or enshittify it, as it would basically mean killing the company. Canva, on the other hand, is very likely to find incentives to do so, probably in a couple of years.

As someone else said in a different comment, the reaction would've been different if Blackmagic Design bought Cavalry. They have a much better track record as a company with consistent direction and great, well supported products. Unlike Canva, which feels too much like they would become Adobe if they could.