I've no doubt that the cost to Adobe of supporting non-professional users was far higher for non-subscription products than for subscription products.
Having to deal with supporting lots of customers with non-standard or semi-obsolete operating systems, as well as customers of widely varying skills, experience and knowledge whose update purchase frequency is inconsistent and often extremely delayed, makes for very high costs and the need to have all sorts of resources devoted to legacy system/user support.
Photoshop is not designed for users of widely varying skills, experience and knowledge - it is designed for users who make their living with it, plus a relatively small number of people whose use is based on wanting to use a graphics program with capacities far greater than the users need.
A subscription model forces customers to keep up to date, which in turn makes it much easier to support a business' customers, which lowers costs and, as a result, improves profits.
If it also improves consistency of cash flow, than that is good too.
So in that way, I expect the "bean counter" reference is at least partially correct. But it isn't because of "increased prices".