Half correct. Adobe's Creative Cloud software is subscription software, but it is not web-based. The "cloud" bit in the name is just buzzword bingo; the apps are installed and run locally as Windows/OS X executable binaries, just as they always have, with check-ins to confirm that you've paid your protection money this month.
Of course the subscription aspect is reason enough for many people to walk way from Adobe (as I have). I know many illustrators have turned to the Manga Studio for comics production, or the GIMP if they can accept its limitations (e.g. lacking CMYK support). Some people can likewise get by with Free software such as Inkscape or Scribus to replace Illustrator and InDesign, respectively. Serif (which currently has graphics apps for Windows) is undertaking development of a full-featured commercial Creative Suite replacement for OS X, and their Illustrator-substitute Affinity Designer (first piece of the puzzle) is nearly ready for release.