Microsoft bought Powerpoint, bought Excel basically too. There wouldn't be an Office suite otherwise.
Google bought Keyhole, there wouldn't be a Google Maps otherwise. Google bought Youtube. They couldn't win with Google Video. Google bought Android.
etc etc etc
This is how the industry works. In general.
Okay wait, Excel does have some competition now, with Google Sheets, and that can be seen in Microsoft’s recent push to distinguish Excel from Google Sheets with new features like the ‘LET’ and ‘XLOOKUP’ formula functions.
Nobody can compete on Youtube-style video unless they first create Google. If that isn't true, where are the competitors? TikTok is the first one to even resemble a competitor, but it took 17 years and even that isn't really the same thing.
Adobe is comparable to Oracle or IBM, where acquisitions mean the death of product innovation as Adobe has a hard time attracting and retaining engineers to the same degree as the above companies.