This, like the Flash post, is an angry post. Also like Flash, I have a class that consists basically of “learn to use this Adobe product.” That’s not inherently bad, but it has some problems - especially when you combine it with a textbook that is also a sales brochure for the thing that it’s teaching you to use. I think that that’s unethical and usually a sign of a cruddy textbook.
Dreamweaver, like Flash, is basically past its sell-by date. Its feature-set is best for the low-end, but as a member of Adobe’s Creative Suite of apps, it’s priced for the high end. If you’re just tinkering with web sites, with static pages, it might be helpful - but it’s also quite likely to be overwhelming. If you’re on the high end, writing web content in PHP/Ruby/Python, Dreamweaver is probably going to be inadequate, especially if you’ve already got your own IDE and content management. I can’t see a good spot in the market for it. I’ll grant that it would have been an amazing tool to have in 1999, and to Macromedia’s credit, it was pretty dang good in 1999. But it hasn’t been 1999 for a long time now.
Modern web content creation has simply outgrown Dreamweaver. This is less speculative than with Flash - Dreamweaver is straight-up inadequate, and its presence in business environments is a sign of clinging to legacy commitments that are long-term losers. Anything Dreamweaver can do can probably be accomplished for free with fewer licensing headaches and a lower workstation and server resource footprint.