Mike, you have to upgrade, not just update.
Reading the following joint statement from Adobe and Nikon, one gets the idea that you're right, but what their actions say is that they're more interested in their own bottom line. How else do you explain what T123 mentioned? I have software that I purchased in 2009 (CS4) that can't talk to my cameras that came out in 2010 (NEX-5 and D7000). It's shameful, especially considering the cost of the software. It's the same story with Lightroom 2 (although I have LR3 now), which can't (well, doesn't) get the latest versions of the ACR engine.
Adobe and Nikon are both enthusiastic about the continued innovation of digital imaging technology. Both companies recognize that ongoing advancement in current RAW formats is bringing a new level of control, precision, and quality to the photography community, and we both are excited about helping to foster that innovation.
Adobe is committed to working with Nikon to ensure that our common customers have an excellent experience when using Nikon cameras with Adobe software, and the company is disappointed that there has been confusion about this in the market. Adobe wants to ensure that our common customers get the very best quality from their photos when using our products together.
Nikon has endeavored to develop the RAW image concept for digital photographers through its Nikon Electronic Format (NEF) file, supporting software, and compatible system components. Nikon envisions its role as an innovator, and values its participation within the industry's organizations, so that the future for RAW images will expand in importance and acceptance among the market's photographers.
Nikon believes that the NEF file has provided important image quality through Nikon's pioneering developments. For the future, Nikon intends to cooperate with Adobe and other industry members in order to pursue its objective of providing images with better quality, convenience, and usefulness to end users.