This is ONLY my humble opinion:
1- Yes. Though they had targeted this for business/industry where there would be many licenses sold at whatever price, they had not reckoned on the amount of fuss we photographers put up. We balked. We may have hurt them more on the PR side than in the pocketbook. Many well known pros were outspoken about their unwillingness to buy into CC at the bloated price first announced, which made Adobe look bad. There were hard feelings inside Adobe with some of the people who write the software that had objections. There was even talk that one of them might write an alternate program "for photographers" to do what lightroom couldn't. (Maybe he is working on in secretly)

2 - Not very fast. They made enough messes the first time and looked like fools. They tested out various special plans until they found our price point. Because they already know what we will do, they won't risk having to do all that again quickly, though probably eventually they (foolishly) will. Hopefully by then, the other companies who are surely working on alternatives will have something to show for it and the market will take care of itself.

Very true... However, Adobe states that the current price is for a year from when you sign up so if you sign up now for the $10 package, it will not increase for at least a year.. after that it depends... However, if Adobe has, as they say, more than 3 million subscribers now ( and we don't know how many of those are $10 and how many are $50 and what ever) but 3 mill times those numbers is way more income that Adobe was realizing by any 2 of their last Creative Suite releases and this is monthly not annual. Remember that, When they did (or do) the suite, they have to write the DVDs, print manuals, package, ship to distributers and retailers, and allow pricing in there for them to mark it up and make a profit. With the Cloud, all of the money is theirs. They don't have to share it with anyone. So, they probably won't be to excited about rocking the boat and losing subscribers.. They've had enough trouble fighting the bad PR about the cloud and the nay sayers to begin with.

Ya know I talked to all my friends about the CC issue, some like it, some don't, I have strong feeling both ways.
Several years ago Adobe announced that it was only going to update Photoshop CS in sequence. If you had CS3 and wanted to upgrade to CS5 when it came out, unless you had purchased CS4 after CS3 you would not be able to upgrade. Scott Kelby who is by the way a Photoshop Guru wrote Adobe and complained about Adobe's intentions. After several weeks of lobbying Adobe decided that was not a great course of action.
Here is Kelby's break down and explanation
http://scottkelby.com/2013/adobe-announces-a-much-better-deal-for-photographers-than-i-was-expecting/