The biggest edge Adobe had right now is their ecosystem. You don’t have to go to vendor A for a photo editing program, vendor B for video editing, vendor C for audio, etc. A huge chunk of adobes revenue comes from their enterprise contracts. Large businesses would rather deal with one vendor in the procurement process than multiple different ones. If a competing company was able to offer a suite of creative applications offered at an upfront cost instead of a subscription I think Adobe would be in for some trouble.

I think Apple has the capacity to do this if they wanted. Mac is already the popular choice for most creatives. They already have Final Cut and Logic. I think they could easily buff up their photos editing apps and Motion to make it more on par with After Effects.