Yes, exactly. $50 in euros is $40, with 20% VAT becomes €48, not €60.
Have you ever tried to buy something with Paypal from a foreign country?
In addition to currency exchange and fees of each state there is a commission that banks or Paypal apply for currency exchange.
If you buy something in the USA, from me in Italy I tell you that this item costs € 270 and you make me a bank transfer of $ 336.3755 ... on my bank account get 270 € and I pay € 12 for the currency exchange of the transaction.
The price of the Creative Cloud subscription is balanced considering this too.
I wouldn't question the fact that a lot of the world is unfair. I'm just questioning whether Adobe has to go along with that!