When the mighty fall, they fall hard.
I got the official Adobe announcement in my college email. I replied:
I've already heard about your CC move. I'm sure my institution will sign on and I'll keep teaching Photoshop and LR to our students.
I'll add a component to my classes -- something like "Adobe Free" and I'll present good alternatives they can chose rather than pay a subscription fee.
Personally I bought my CS6 upgrade last year but for years I've been relying on Adobe software less and less. I'm a photographer and the bulk of my PP work is raw file conversion; 70% I do in Capture One which kicks your software's butt. I just purchased Photo Ninja which likewise mops the floor with ACR/LR and now the only time I actually use ACR/LR is when I'm in the classroom demoing it for students. I still use Photoshop to spruce up my RGB photos, but there are less expensive and excellent alternatives out there.
I realize that I'm just a little guy and you're not going to miss me much -- I won't miss you much either.