Adobe Digital Editions is a FREE download, so I am not sure that I understand where the 'racket' is as far a you are concerned.
Once you have ADE installed, you can also easily transfer your ebooks to about 90% of the EPUB compatible readers out there, because virtually everyone now supports Adobe's ADEPT.
Amazon only supports 'Kindle Apps' on a few hardware platforms, and you can't then buy 'Kindle Books' from anyone but them.
Unlike Amazon, with ADEPT you can have 6 different devices from six different manufactures all registered on the same license, and all will be able to read your ebooks purchased from any of several different sources.
So you can buy a book from Sony, and read it on your Kobo, or buy a book from Kobo and read it on your Sony, or buy a book from Google Books and read it on either one, or a Nook, or a Jetbook or Aluratek or any of a half dozen other readers.
So, although not a 'open' standard, Adobe's ADEPT DRM is about 50 times more flexible than Amazon.
The reason you ran into it on your library book is not because of Adobe's 'racket' but rather because Adobe is willing to license it's DRM on generous terms to allow it to be used by just about everyone including libraries or other non-profits.
I have found Adobe's ADE DRM is less intrusive and more flexible than most others like Apple and B&N, and it should not give you trouble if you take the time to set it up and get it authorized correctly.
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