I'm probably missing it. I've used Photoshop since version 1 and owned a personal copy since version 3 (mid 90s). When new features were added i'd evaluate if I wanted them. I generally upgrade every 2 versions for $199 or which is ~$50 a year.
Subscriptions raised that to $240 a year, a 480% increase. Further, since subscriptions were added no features I want have been added. But, I can't just stop and use some version, stop paying and the software stops working.
I see no evidence that Adobe's subscription model has let them invest more effort in making the product great. In fact it's the exact opposite. Before they had to add some features to entice you to pay for the upgrade. now they can just do nothing because you're "renting" the software.