Because you license rather than own Adobe software, your access can be terminated and you do not have the same rights as a buyer of physical software, including rights of resale or permanent ownership.
Adobe's Terms grant the company access to cloud-stored content for analytics, safety scanning, and service improvement, though local content on your device is never scanned and your files will not be used to train generative AI models. US consumers are bound by mandatory arbitration and waive their right to participate in class action lawsuits against Adobe. You can opt out of content analytics and certain data uses by visiting https://www.adobe.com/privacy/opt-out.html.