You're not speaking to Adobe here. We're just users of Adobe applications like you. This is my opinion:
You won't want to read this, but the train has already left the station. The "old" way of distributing software is going away and, at least for professional software, it's not coming back. It's not just Adobe. All the major software vendors are moving in the same direction.
When you subscribe to creative Cloud, the softwares and the files are stored on your hard disk. Storing files on the “cloud” is a service, but it is not mandatory.