Lightroom and Photoshop are fantastic pieces of software. But, like any software, it's easy to see how the pace of innovation slackened and slowed as the products matured. The "core" features of those products mostly made their appearance in the earlier releases.
You can imagine the consternation of the product manager of LR or PS once they had hit version four or five. "What the hell do we add now, to keep people buying the next new release?"
"Oh, wait! We'll do a subscription model! We'll sell the narrative of constant, continuous improvement!"
Ten bucks a month ain't all that much. And, really, when you total it all up it isn't all that different from the periodic, major-version releases we used to see back in the day. And so it's really not a surprise that so many photographers simply shrugged at the new model.
Alas, if you put the feature set of either program into a matrix, and truly scrutinize what you got, when... you'll see a clearly declining value proposition.
Now, having already captured much of the serious-photographer market, Adobe has set its eyes upon the vastly larger smartphone-in-every-pocket universe. True, cloud storage will suck for Sally, the wedding photographer, just back from an event. But it'll work just dandy for Suzie and her Saturday night selfies!
Me, I just said no.
I stopped at LR 6, the last standalone version. And was finally pushed to an inflection point last fall when Apple released Catalina - the first MacOS version that removed support for legacy 32-bit apps. Turns out that although Lightroom and Photoshop are both 64-bit apps - and have been for awhile - the installer that Adobe provides is 32-bit. Alrighty then.
After using LR and PS for literal decades, I have nothing but fondness for them. But Adobe long ago got too big for its britches.
And after six months I can say that Capture One is both an able replacement as well as an elegant piece of software in its own right, software that brings to bear its own singular strengths.