Content Translation in the AI plugin 1.3.0 translates paragraph and heading blocks in the block editor. It does not create language routing, hreflang tags, translated taxonomies or a language
The free Polylang plugin already provides routing, the switcher, translated categories and tags, and XLIFF import and export. Polylang Pro at EUR 99 per site per year mainly adds DeepL integration,
WPML's Multilingual CMS tier is $99 a year and bundles 90,000 automatic translation credits, so the AI plugin competes with the credits rather than with the plugin.