The transition for current Photoshop users will be automatic. Here is a quote:
Customers who have already joined a Creative Cloud Single App membership for Photoshop at the $9.99/month level (or corresponding local pricing matching the pricing provided in the question above) will be automatically transitioned to this new program when it ships in a few weeks, with the additional benefits and lower ongoing price. All other Creative Cloud members who meet the qualification requirements may contact Adobe Customer Service once the new offer is shipping in a few weeks, to discuss transitioning their membership to this new offer.
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