On behalf of Adobe Systems Incorporated …
We are sorry that you are “not a happy customer at this point” but the fact is that software licensed with a perpetual license is licensed for use on the hardware and software that was current at the time that the software was released. As others have responded, there have been dramatic changes to both MacOS and Macintosh hardware since January 2005 (over 12 years ago) when Acrobat 7 was released. Apple has for years been very clear that application compatibility with future OS releases and new hardware is not one of their goals. (Ironically, even the Windows version of Acrobat 7 cannot run on any versions of Windows beyond Windows XP 32-bit due to system interfaces that have changed in Windows!)
We don't know what “other companies” you are referring to, but we are not aware of any other significant application software from 2005 for which free upgrades are offered to run on today's hardware and MacOS environment. For example, Microsoft doesn't offer any free update to 2005-era Office versions to work under MacOS 10.12.x.
For what it is worth, one of the best arguments for the subscription model is that you always have access to a version of the software that runs on the last hardware and OS versions without paying any upgrade/update fee.
- Dov