I think they probably are. I follow Adobe closely and when the acquisition was announced I was pretty skeptical it would be net good for Adobe in the long-run. The problem wasn't the idea of buying Figma, it was the very rich price being paid. Adobe has a history of not doing a lot of big acquisitions (for it's size and massive cash position). When it does acquire big, Adobe is mostly strategic and a "value shopper", meaning they generally don't pay extremely high prices bid up by frothy auctions. This means Adobe must walk away from a lot of deals we never hear about over price. That's why the Figma deal struck me as so unusual.

In the >year since the deal was announced, it's started to look even less plausible to me. Despite being required to pay a large break-up fee, I suspect, Adobe's management is relieved.