Same for Microsoft and others. There is still a business in selling and supporting software, but not in creating it, and barriers to entry are now purely about sales and service.
Now that being said, Adobe has plenty of non-standardized file formats that they absolutely could do AutoCAD-style shenanigans with.
Yeah, that's not going to happen.
The backlash against Adobe would be intense from users and the industry for attempting to break JPEG's interoperability as an ISO standard.
Let’s not get carried away here; Adobe has competed against hundreds of image editors ever since Photoshop 1.0 was released in 1990 and haven’t messed with the interoperability of their file formats.
Just to be clear, nobody at Adobe is losing sleep over a suite of free apps that are knock-offs of Lightroom, Photoshop, Illustrator, and InDesign, etc. for now.