Enjoy whatever new features Adobe deigns to deliver on this latest update, because that's all folks!
With CC, Adobe will have a captive audience and no significant competition. So they can fire most of their programmers, with the few who remain concentrating on bug fixes and minor tweaks to keep up with new OS releases from Apple and Microsoft. All while pocketing the money for a major upgrade from ALL CC users every year forever and ever, amen.
It's how Adobe's done business in the past. When graced with a similar situation (killing FreeHand, Adobe Illustrator's only serious competitor), Adobe stopped improving AI, merely adding cosmetic changes to make it even more bloated.
Adobe's selling Creative Cloud with the exact opposite promise: they plan more frequent updates not tied to a release schedule.
And surely you're not implying that Illustrator has only undergone "cosmetic changes" in 8 years' time. For starters, it became a 64-bit application with CS6, never mind useful things I actually use that have been added, like multiple art boards, better gradient tools, and better bitmap tracing.
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People keep saying that the app will be downloaded onto your computer and a phone home will be done occasionally...
That may be how it works now, but who says that future versions (including CS7) won't entirely be web based...
Far fetched? Not as much as you think. It allows Adobe to cut down from making a Mac and Windows version to solely making a web version.
You have to think that Adobe are doing this to cut costs and increase revenue. The quickest way to cut costs is to reduce the number of versions you produce.
Adobe may (and does) feature some web-based software, but most of the Creative Suite is too processor and disk-space usage intensive to run as web-only software given the current state of tech. Maybe in ten years.