Nice place to work but insular teams and management flailing
Pros
Great genuine people (and the ones that aren't are easy to pick out). Product stability. Household name. Yearly layoffs are more-or-less a thing of the past. Getting a bit more nimble, some by intentional change, some by acquisition. Racial diversity (esp. US citizen & black men) has grown quite a bit over the last couple years, much due to acquisition.
Cons
A lot of flailing as to strategy rather than a solid strategy with changing tactics. Currently involved in building a lot of little questionable use apps and hoping some of them turn into something big. Many projects are being seen as "Well, we can add it as another feature for the Creative Cloud" but that's not adding significant "need" value. Those products are in danger of become bloatware with support drag. Teams also end up frequently product hopping and going through re-orgs, which could be healthy but Adobe/Macromedia had such strong developer identification with their product-silo that it ends up being more traumatic.