I feel like everyone is very negative about something that hasn't happened yet. This gives a desktop environment to Canva users, where the revenue actually is. It's both a trojan horse and a usable product.
Will everyone's worse fears come true? Maybe, maybe not. Mean time you have an excellent app, for free, and very few software products, free, open source, closed source, perpetual, subscription.... last "forever". They are often obsoleted by some new product, new workflow or just a new OS. Take it for what it is right now.
Adobe should read this and understand it. Veteran users of Photoshop, Illustrator and InDesign get updates that change the default way of doing something and they don’t even provide a UI to change back. Don’t fix long-standing bugs, just change something that didn’t need changing.
That and the major performance downgrades to support unwanted features.