The last version of Office I bought, I bought online, its undownloadable. There is no CD key in the account. A few years ago I used Office Live. Its shut down and (may be) named 365 or you are supposed to use Office 365. I don't know.
I once used "Microsoft Online" which was just a hosted Exchange server. The goal was to use the web based email, along with Outlook on my desktop, and synced to my phone. They told me to call support to get Outlook to work with the hosted exchange account on my Windows machine. No thanks.
Nothing with Microsoft's "cloud" services make sense. There are a bunch of different names that continually change. Multiple accounts access multiple services. And in the end, most of it barely works.
Its surprising and disturbing to hear the same thing happening at Adobe.
The bones of these bloated bureaucracies are creaking very loudly. The managers of these companies are begging for customer assisted suicide. That's good for small start ups who have no trouble staying on message.