Yes, that’s true only if you use Photoshop and nothing else. Even adding Lightroom would still be less cost as many photographers use both. But if you want to use Flash, Dreamweaver, or Fireworks for your web site, InDesign instead of Word, Publisher, etc. for marketing materials, those costs can easily add up on an individual basis.
I was not aware that it was their entire line of products for 50$ a month … that does change the dynamic quite a bit.
But seriously, Flash doesn;t work on tablets and smartphones and tablet sales will surpass laptop sales this year so if you are designing your website with flash in it … you are doing it wrong.