Earlier quoted context omitted.
It is hard to believe that a company with the expertise of Adobe in graphics programming (Photoshop, Premier, After Effects, Illustrator) cannot build a vector design program. Not for the workers using those tools. Adobe has been coasting for a decade if not more. Probably difficult to see from the outside if you're not directly using it daily.
Moving to a subscription model is largely a symptom of that coasting. They couldn’t consistently come up with compelling reasons to upgrade to new versions of Creative Suite, with users being perfectly happy to run what they had for as many years as possible. They were always going to hit a ceiling on interesting features to implement, but they could’ve sold new CS versions on improvements in stability, performance,…
PMs break every feature down as an experiment to try and measure the value. It often misses consideration of the whole product. Everyone is scared of taking a big bet because it's harder to measure and too risky because all of these small bets are seemingly safer.
What I'd argue for is better product leadership that recognizes these new modes of development are just a tool. However, many product teams have become cults of experimentation and I expect this is the case at Adobe. It pays off as long as people are renewing, but the product suffers.