And that doesn't make it read-only. It just makes it not suitable for live text editing just like a PNG isn't suitable for collaborative image work.
Also, did you want to say JPEG isn't suitable for collaborative image work (because it's lossy?). As PNG is a pretty fine exchange format if two people, who prefer different graphical editors, want to work on the same document.
(also used it before the pandemic - I used to work for Adobe, for 10 years, though not in the Document Cloud group).
[edit] I should clarify that "I never personally experienced Acrobat bugs that would corrupt my document", not that they don't exist; am not claiming that Acrobat is flawless, and maybe if I went to dig into the bug tracker I could've found document corruption bugs too, who knows.
The format is certainly messy [+], I don't deny that. However, I think in this instance you're letting Apple off the hook too easily - this one is decidedly their screwup, not Adobe's.
[+] not the basics of it, that's fine; but the "trying to do too much" part.
