In this case, I think it will. Adobe has been trying to build their own version of Figma for like 5 years. If anything, this probably means the end of XD and maybe their web versions of Photoshop. The Macromedia acquisition was a little different – Fireworks was an inferior Photoshop competitor, Freehand an inferior Illustrator competitor, Dreamweaver was outside of their core business, Flash actually got decent support until the world itself moved on from it (and Adobe mistakenly believed it could survive as closed source), and the rest of the portfolio didn't have much value. In Figma's case, it's actually a superior competitor to XD and even Photoshop in a lot of use cases, and it's figured out the web-based design environment that Adobe has tried repeatedly to do with mixed results.

I'd be surprised if they decided to shutter Figma. Now... ruin it by adding a bunch of crap nobody wants like Adobe does with every other product? Pretty likely. But I don't think they'll do what they did to Macromedia. I could be wrong, though.