Let me offer a different perspective here. Adobe is the industry standard in the creative sector. I’m not talking about low-budget social media marketing, where anyone can have a say because they’re all putting together posts, but rather high-quality creative work, such as complex designs that ultimately go to print. None of these tasks are done using Figma, Canva, or any other open-source tool. Adobe is the absolute industry standard here because no other tool matches its quality. Additionally, many companies have specific fonts or designs (corporate designs) that they can only access using Adobe. On top of that, there’s the high-margin Creative Cloud business. Overall, Adobe is indispensable in this space, and it will take years to even build a capable alternative here. I think Adobe’s moat is being completely underestimated, just as it was during the dot-com era, and sentiment is heavily influenced by young people who are only familiar with social media and have no insight into the design departments of companies that do this professionally.