It actually is and the user base is growing. The price for pro use, ie those of us who make our living use Adobe CC, is very small. Adobe CC is not aimed at home or hobby users as the price is prohibitive for that I believe, but not for professionals. Profits from a single job easily covers and surpasses the monthly fee. Adobe CC has also made life much easier for those who work collaboratively as now everyone (almost) is always on the same version, no more headaches of being a version or 2 behind, or up to date but the client is behind and needs to work on native files, it all just works together and those issues are completely gone. This is HUGE as it was a real problem and hassle.
That said I am not a fan of subscription services for consumer use, there are enough of those as it is and this is just another way to become indebted to Apple. I envision a future of indentured servants working at Apple plants, these people who could not make their payments and now need to work it off for eternity. Of course that is fiction, but it certainly feels that way when regular life has subscription purchases attached to everything.
It was a huge problem, because Adobe (and QuarkXPress before it) made the software specifically so that you had to keep updating the software to be able to cooperate.
It was planned to become obsolete as each version added something new to the file to prevent it being opened by the old one.
And this is also the danger of these subscription models. As soon as "most" people start using subscription (and therefore have current devices) it will no longer make sense for Apple to keep updating software for older models.
So whereas you could have a 5 year old phone and still use the latest iOS version, you might be forced to change phones every two years as Apple will only see the benefit of keeping the subscription models current.
---------
Who bloody said anyone needs a new phone each year? my iPhone 8 is still going well, and I see no need to upgrade.
Be happy with what you have.