It might be. It depends on your particular needs.
If you upgrade every time a new version comes out because you are constantly pushing the envelope of technical innovention, then get the Creative Cloud.
If you buy a box of software and keep it for a few years, then buy the box.
If you have no money to speak of, then the Cloud can get you up and running immediately for very little money. If the long term cost is whet is important to you, consider buying the box.
If you ever wish you had After Effects for just a few minutes to make a cool title with a template you saw somewhere, or you really could use Photoshop for a particulat project, and maybe now and then Illustrator would solve a problem, and you can't justify paying for those programs to use them once in a blue moon, then do what I did. Get the Creative Cloud and have access to just about every Adobe program and never beat yourself up trying to work around a problem ever again.