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> The present subscription model and the prospect of where an entirely web-based equivalent will lead.

Aka the fact that, regardless of payment model, the latter is basically un-crackable. Photoshop has maintained some popularity, in spite of the SaaS move, because quite a few people can still get it by "sailing the high seas" (some of them pay for a while and then crack, others just get good ol' "releases"). I'm not so sure that turning off that tap for good will be a net positive for Adobe, but I guess we'll see.



Exactly.




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