His story and timeline of PostScript, the Laserwriter, TrueType, Aldus PageMaker, Macromedia's Freehand is almost all as I recall it and heard at the time from mainly Adobe insiders. The only statement I see which is a bit questionable is his assertion that Adobe did not realise when buying Aldus that the rights to Freehand did not come with the sale since they still belonged to the originators. Not until they bought Macromedia 10 years later did Freehand enter Adobe's fold.
However, if you think that lack of foresight (or what is now called "due dilligence" is impossible I can quote a tale from Australian media history. Our main TV weekly program guide which once sold a million copies a week was part of a publishing company sold off by News Ltd (which many years previously had been in the free-to-air TV business here) and ultimately sold to one of our major TV channels. After the final sale, the other leading TV company "revealed" that they owned 50% of the title. Within a week the magazine was being published by that company's publishing arm, from another city, with an entirely new staff.
Quite a blow for the other TV channel -- but I worked for that magazine several years earlier and as a fairly junior player I knew that the magazine was only half owned by the company publishing it. So I question how the money/management people did not know that essential fact when talking of multi-million deals. Could Adobe have not known about Freehand in 1994? Maybe.
It does not seem long ago that there were continuing email list discussions on the relative merits of true PostScript and the clones built in to printers. It dawned on most of us very slowly that the future lay in postscript interpreters resident on the computer, so slowly for me that the PostScript 2 laser printer I paid $5000 for (and $500 for each cartridge) we were unable to give away. It recently ended at the tip despite still being in working order.
The column is at: