Adobe professional products are solely cloud based and it is a subscription; apparently cloud storage is part of the subscription. Regardless of what weasel words there are they appear to be planning on running 100% of everyone's work through analysis software. Recall that image used to sell sunscreen with the dog pulling a girl's swimsuit to the side? I expect that Adobe filter software will generate a child porn accusation for anything similar and lock all your work from being retrieved.
As Louis Rossmann pointed out there is no option to decline the license and download/remove all your content from their servers. Either you grant them 100% access or you are locked out.
There is a bunch of thrashing over at
https://www.reddit.com/r/Adobe/
Now I'm wondering if I should dig out the old Photoshop 5 disks and see if if can be loaded.