What you are missing:
- If, instead of paying Adobe for subscription, you put away that cash into a pool of money that could grow at the APR of 4%, and that amount compounds itself for every additional later year...you would have an accumulated $29,900 in that account, not merely $7200 (60 * $120)
- If, instead of paying Adobe for subscription ever year (but stopped putting money in every other year), you put away that cash into a pool of money that could grow at the APR of 4%, and that amount compounds itself for every additional later year...you would have an accumulated $29,900 in that account.
In my case, I purchased the predecessor to Lightroom, Rawshooter, for $99. I could skip a release, saving $99, and Adobe GAVE ME Lightroom V1, and I could still opt to skip buying one version for $99, but then decide to buy v3, etc...I bought v5 and v6, and then stopped, when they went to subscription. So I paid a total of 3 versions of Rawshooter and three versions of LR, for a total of $500 across an evolution of 9 versions of software, and have been using LR6 for multiple years at no added cost, spanning 20 years now. I need no new features, I need no 'new camera' support for its RAW files, so I have no need of further upgrade. Under subscription for that same 20 years, it would have been $2400 out of pocket (rather than the $500), Skipping releases every other year and paying $100 per release, my retirement account would be about $1400 smaller ($1000 paid out of pocket, and interest not realized)