I get your sentiment, but what Adobe does is of almost no consequence to the rest of the world. Type 1 fonts can never go away, and are required to be implemented in one form or another.
For example, the actual outlines (once losslessly transformed into CFF/Type 2) are required to be supported by any OpenType-speaking rasterization engine until the end of time; this is as per ISO/IEC 14496-22 aka MPEG4 Part 22, a specification that is mostly Microsoft contributions, building on top of Apple's TrueType font specification (which was also adopted by Microsoft circa Windows 3.1). Adobe's only contribution to any of this was providing Type 1/Type 2 glyph support (which was already standardized as ISO 9541).
Adobe's proposed replacement, which never was adopted, is Type 3: Type 1/2 fonts, but with the full power of Postscript to manage the actual rendering (as to do hand-tuned hinting, and such). This was designed to be a push into display-oriented fonts, instead of only having a font format that is optimal for print...
Except TrueType hinting already has existed for 30 years, and hand-hinting is falling out of fashion as 200%+ DPI is becoming the norm. In the future, we're just going to go back to grayscale AA, no hand-hinting at 9-14px ranges, no subpixel rendering, and at this scale hinting at all has a negligible effect.
Type 3 is not supported by OpenType's OTF or by WOFF, yet I can transform existing Type 1 formats (of which there are several) into OTF or WOFF, and continue using them with Freetype, DirectWrite, OSX's renderer, and in all major web browsers, with their glyphs exactly as intended by the original artist.
People, usually, do not use Adobe tools to author fonts. They are not the best in class, and also produce fonts that don't comply with the relevant specifications.
People, usually, do not use Adobe tools to author PDFs. They are not the best in class, and also produce PDFs that don't comply with the relevant specifications.
I can repeat this statement for basically everything Adobe makes: of formats they invented, they don't comply with their own specification while everyone else does, and there is a better domain-specific tool out there that replaces the use of them.
The only counter-example in Adobe's entire portfolio is Photoshop: it's not great at every specific use, but its the swiss army chainsaw of raster image manipulation; there's several better tools that do a specific task much better, but nobody has been idiotic enough to produce a tool that does all of them mediocrely at the same time.