Somehow I don't think Apple is going to put Adobe out of business.
They don't need to.
They want marketshare to enhance their other market positions and give them optionality for future strategy.
They'd love the whole market, but they don't need it and they won't employ too many resources chasing that.
They're a powerful giant with hands in so many places. Each enforcing other endeavors.
This encourages people to stay in the Apple hardware ecosystem, for instance. It dog foods their silicon. It keeps people thinking of Apple as the creative brand and operating system. More creatives buying Apple -> more being produced and consumed for and on Apple.
Also the strategy of getting kids young has always been genius. They started that in the eighties, I think.
They don't need to, but they do lose a bunch more of the 'feeder' market. If need to edit video to a semi professional standard I'd pick this bundle at 12.99/month (and get extra tools i might need) vs adobe premiere for 22.99/month.
As someone who came up along side adobe, the only reason photoshop is as entrenched as it is is simply because of piracy. Ditto for premiere. It created the market that they then locked down with subscriptions.
I think you are going to see shops that are smaller, doing their own design stuff internally, increasingly moving away from adobe subscriptions.