This is a well rehearsed segmentation game that market leaders like to play until even the biggest companies on earth no longer appear to be dominant in any specific segment.

I don't buy it. It's not just about indvidual verticals in their current state. For these conglomerates it's always about buying rising competitors out of the market before they can become a strategic threat.

Figma could have expanded beyond any particular vertical they are currently in. Figma could have been bought buy a stronger competitor from outside the graphics space (such as Microsoft). Adobe didn't want to let that happen.

We should block all of these defensive acquisitions. And we should block all acquisitions that help an already big conglomerate capture the next neighboring vertical without doing any actual engineering work (except for small acqui-hires perhaps)