Can only 'Save As...' PSD, PSB , PDF or TIFF

In addition to the other explanations, it should be noted that a lot of other applications on Mac and Windows have long used the same behavior that Photoshop changed to:

To preserve full editing of all features, including layers, use Save As, which lists only the formats that can do that (such as PSD, PSB, TIFF, and Photoshop PDF).

To choose other formats that cannot preserve full editing, such as JPEG, PNG, etc., use another command such as Save a Copy or one of the Export commands.

Again, many other applications already work this way, including Affinity Photo. Getting more formats in Save As might have been more convenient, but the new way is actually more of an industry standard.

Okay, I see this was a "feature" added about a year ago.  No idea how it's only just become apparent, I keep CC updated.

I am honestly getting really pissed off with the changes Adobe keep making to their software that actually slows down workflow.  How was this 'feature' even thought up, let alone approved for release?

It seems obvious that Adobe don't actually use their software.  Every release brings out new 'Features' that are practically useless in day-to-day work, and they add ridiculous workflow changes.  "Hey, you know you used to just hit this button to achieve this?  Okay, now you have to go through two different menus and hit 3 buttons instead, whilst holding down CTRL+ALT+SHIFT. Okay?" 

And you see certain people on these forums saying "What are you complaining about, just write a Script that'll do that job for you really easily!".  IT WORKED REALLY EASILY BEFORE, WHY DID YOU CHANGE IT!?

Meanwhile I've still got bugs in Photoshop that have been there for years without any attention.  Artboards anyone?  What a hot mess they are.  Buggy AF. 

Adobe, fix your buggy apps, THEN consider adding Features that are actually beneficial to your existing subscribers!