I think of it more as a ransom. Stop paying their ransom and they shut you down! When they started that Cloud system Adobe CC, they thought they were going to have everyone jump on their wagon. Their price was $49 a month or $49.99 but not many were prepared to do that, so they quickly dropped it to $29.99 a month and still a lot of people decided to stop using them, so they then changed things around and offer a one year intro for just Photoshop at $9.99 a month, then changed that to not just the first year but permanently at $9.99 for as long as you paid the ransom.
I work in a creative industry, and Adobe going to a subscription model has been really helpful for us. Agencies like my own often wouldn't update to the latest version until months later, because the software had to be vetted by our corporate IT, and often we would skip entire releases. With the subscription model we get the latest version of the entire suite as soon as they release an update, which they do very frequently these days.
I get why some hobbyists aren't happy with this, but even before Creative Cloud Adobe wasn't really for hobbyists anyway. Wasn't a Photoshop CS6 license $999 by itself? You can get almost three years of Creative Cloud subscription at the $29.99 promo for that money, and that includes the entire software suite, not just Photoshop.
I make music as a hobbyist, and I honestly wish more music software would go the subscription route.
As for getting the whole suite for the corporate rental that is great but hardly any individual user would need that, so it is a waste of money every month. It would be like car makers all saying we no longer sell you a car. From now on everyone must pay a monthly rental to own a car, BUT, you can now use our SUV model and our Truck and our 19 wheeler and our Motorcycle and our Unicycle, and the Fire Engine we build, so see what a great deal we are now offering you??? As you can imagine, almost no one needs all those things to drive, they just want to have their car back, or their truck back, or their SUV back. And that is no longer possible unless you pay the monthly rent.
I agree the pricing structure was a bit clumsy, and definitely too high at first. And for someone like yourself who only uses Photoshop, a lot of the benefits go away. But as a hobbyist I use Photoshop, Lightroom, After Effects, Premiere Pro and Illustrator, so it makes sense to me, and I get a LOT of the benefits out of the new model. I would have never spent the money to buy a full Creative Suite license back in the day, and that would've been the only way I could've gotten all that software.
Interesting you should bring that up. My creative industry services the auto industry, and a lot of car makers are starting to introduce subscription models. Not to replace ownership, but as an alternative that makes a lot of sense to some people. And no, it doesn't include the unicycle. Oh, yesterday I took an electric scooter to dinner, and that too was through a subscription model
I think of it more as a ransom.
You can go back to your old Photoshop CS 6 at any time in the next several years, when ever you wish and it can still be used and at not one more penny cost to you. But the ransom system means over several years you will have paid out the original old purchase price, many times over.
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