Keep in mind that most of the worlds best graphic designs were created in photoshop and other adobe applications. If adobe were to go out of business today, photoshop will still be a useful program. The problem with creative cloud is that it ties your use of the software, to the success of the company. If they go out of business or decide to change paths, they can render your software into a digital paperweight right before a huge deadline. Many professionals who use these applications for their livelihood are taking a huge gamble with creative cloud because the DRM makes it so that the software can fail to work when they need it most.
With older versions such as CS6, if adobe were to go out of business today, the software would still work long into the future, even new installs because since there is no uncertainty of the length of a license, it can continue to provide use if it is unable to communicate with adobe. For CC, when it decides that you have become a thief, it requires a connection to the DRM servers, and if it fails to connect, it assumes that you stole the software, and completely locks you out.
The number one goal of creative cloud was to make a much stronger DRM, the other goal is to extract more money from customers. By moving to a subscription based service, they can get a constant flow of money without having to make worthwhile improvements.
In the past, professionals would buy new versions when there was an improvement in their workflow, this forced adobe to take into account more feedback and work to improve the tasks that all of the users do as anything less and you would have professionals skipping a few versions of photoshop. CC was designed to make them pay whether there is an improvement to their workflow or not. The more frequent update crap is just complete BS as photoshop for nearly 10 years, has had an updater, and have released updated which have added features or improved support for newer cameras. CC is just purely anti-consumer. (it is far less reliable and will cost more in the long run to pretty much all customers, especially if you follow the idea of only upgrading when there is an improvement to something you do)