The idea of eliminating the watermark feature on the desktop version of Lightroom is utterly ridiculous.
Yes I can do it on my phone, but how much of a faff is that? Absolute pain in the arse. What were you trying to achieve Adobe? Talk about taking steps backwards. I'll be reaching for my sharpened flint very soon to write an even lengthier rant! Here's hoping you reinstate the watermark feature on Desktop. Not a very happy bunny right now. My time is money and its just cost me another hour faffing about with watermarks on my phone.
The watermark feature has not been "eliminated" from Lightroom. Lightroom, the cloud version, Is an all new version of Lightroom that was developed from the ground up, completely independently, from Lightroom Classic. The features that are in Lightroom are there because they have been added to that version as an all new version of Lightroom. Many users have requested watermarking features. Whether or not they will be added, or when they will be added will be determined by the Adobe development team, and probably based on a priority list. Since I am only a user with no affiliation with Adobe whatsoever, I can give you no estimation as to when/If that feature will be added to the desktop version.
Plus; I think of lightroom cloud version as "Lightroom Lite". It has greate collaborative features editing on any client is great. But the penalty for this simplicity is fewer features compared to Lightroom Classic.