I can see how as a consumer that seems simple. But, as a computer scientist and software engineer it looks very different.
1) security updates - when you sell a boxed copy of version X, you then have to keep it up-to-date with security updates for at least a few years. On an expensive piece of kit like the creative suite, there will be people using many versions back at any one time, so you have to maintain a lot of legacy code for a long time. Contrast that with creative cloud - everyone is entitled to the latest version for no extra charge, so you only have to maintain one version, freeing engineers to do useful work. This is good for consumers because there are more engineers working on cool new stuff all the time.
2) continuous versus big-step updates - when you make software for a living you have to have a constant flow of income. The old way to do that was to release new versions every year or two and charge for upgrading. You would bundle a whole load of changes together to create this new version, and try to find one or two star features to convince people it's worth parting with their cash. Finding a good value proposition is easy when software is new, but with mature software it gets hard. "it does all the same stuff but faster and easier" is not going to convince people to hand over a few hundred green! There is also presure to get everything ready at the same time - so inevitably half-baked crap gets shipped. Compare and contrast to the software as a service model - now you have a constant stream of income regardless, so you can focus on making your software better, not making flashy marketing features. You can also release things as and when they are ready. Consumers get new stuff at a constant steady rate, and all of it properly tested before released (in theory anyway).
So - all this gives us, the end user three big advantages:
1) control over cashflow
2) better security
3) a steady flow of new features that are better tested when they're unleashed
It's a big change, but as someone who makes their living from computers, I have no doubt that it's a change for the better.
B.