Adobe can say whatever they want in their EULA; whether it's legally enforceable in court is another matter.
Imagine how these you-own-a-license-not-the-thing-itself shenanigans would play out for any other product we purchase. "No, you didn't buy that $40k car in cash upfront! You only bought Toyota's permission to operate the car, and we reserve the right to repossess it at any time."
Imagine how these you-own-a-license-not-the-thing-itself shenanigans would play out for any other product we purchase. "No, you didn't buy that $40k car in cash upfront! You only bought Toyota's permission to operate the car, and we reserve the right to repossess it at any time."