While the UI of both forms might look identical in most cases there are significant differences:
- Edit form needs parameter to populate fields, Add creates new instance and parameter is not needed.
- Primary keys cannot be edited and are excluded explicitly from the Edit forms while in Add forms sometimes there are needed.
- Selecting proper value in lookups is a must in Edit forms while in Add forms this is again not needed.
- Add forms can be extended to handle built-in many-to-many relations while this is not needed for Edit forms.
I'm sure there are many other custom cases and so far, for 7 years our customers liked separate Add/Edit forms.