I don't believe Adobe are deprecating Classic CC, they have just added a new product, but created by confusion by messing with the names.
Re the subscription model, I think it is very good value, my problem with it is that if for any reason they change the terms, eg double the price, you have to cough up or lose the product.
On1's latest offering, currently in public beta, is getting very close as a developing option, but the browser is a long way short of Lr. As far as an alternative DAM being a reincarnation of Lr, that is fine with me, I like Lr.
If On1 get the final ducks in place and have a real alternative to Lr in the same app as develop and effects, offering a seamless, non destructive workflow it will be a game changer. Affinity, Pixelmator etc will have to run to catch up.