Anyone else around for the dot com bubble? Why does the current tech M&A scene feel so eerily similar?

I recognize that inflation is quickly destroying the value of the dollar, but $20 billion is still a mind numbingly large amount of money to be throwing around at the clear end of a long term tech sector growth cycle.

This speaks as a brutal admission from Adobe corporate leadership that they lack the internal entrepreneurial skills to drive the development of new and innovative products in their market space, and based on the ~10% stock price drop since the announcement I imagine the market sees it the same way.