His beef is that his project was viable competition. The design market and the purchase price made it clear that was not true.
I don't think they paid too much. It will give Adobe 10 more years of subscriptions without effort. Without Figma, they would be reduced to metrics software (in 10 years).
Perhaps they could as things are but what would have happened if, say, Apple acquires Figma? What if Microsoft did? 20B is a lot of money -- to Adobe. Just to demonstrate how absurdly uneven the playing field is, Apple has ten times as much cash at hand.
