Quite often a bit of research helps, and studying the manual.
The key difference between the 2 is their original intent.
Live was always meant as a performance based DAW - something to take on stage.
This is definitely not Cubase.
The instrument sound and FX from live reflect this. Take the reverbs as an example - Steinberg stuff, detailed and complex - Ableton - easy to assign controllers and tweak.
However for realistic sound, I would not use or recommend AL… for EDM maybe/definitely.
For instance, as example, let’s look at the way one programs a realistic drum pattern, including intro, fills , bridge etc between the 2 DAWs. A task which would include loading realistic sounding kits as well as assigning channels per kit part.
Then let’s consider the drum editor - AL aimed their mapping strategy at their own kits, ever tried to map, for example EZD or BFD with AL… talk about lack of “work-flow” 