I originally rolled my eyes when Adobe announced the CC subscription thing.
But I'm now into my second year with it, and I consider it good value.
First off, while there are some very good, less costly image editing packages out there, Photoshop is still king of the hill. Working in layers, applying gradients, etc. etc. helps get my images closer to what I originally intended when I took the shot.
I use Lightroom sparingly. It has its uses, especially for batching large projects, but for my pictorial work, I prefer to just browse for the best image, and then open it in Photoshop (via camera raw, of course). And since Adobe bundles Lightroom with Photoshop, that just reinforces my view that Lightroom is a
pre-Photoshop tool, not an alternative.
I used to be a big fan of Elements, given that it delivers 90% of what most people need from Photoshop at a fraction of the cost. But after spending your $100 or so, it doesn't take long for it to become obsolete - no new Raw updates, or it won't run well after an OS update, etc. etc. So three years later you're already looking to buy the next one.
Honestly, for what people are willing to spend on goofy artisan neckstraps, or seldom used oddball ND filters, having access to a state of the art image editing package for $150 a year is a good deal. Maybe what Adobe need to do is send you a product key on a gilt edged card inside a walnut box. Then you'd feel better about it