Again, for those of you with CS5 who cannot open RAW files from their 6D, blame Canon, not Adobe. It's Canon that keeps changing the format and not documenting it openly. As I said, older versions of DPP, Canon's own software, won't open RAW files from the 6D. If Canon would make its file format backward compatible, there would be no issue opening your files in older versions of PS.
DNG was indeed created by Adobe, but it's a fully open format with no license or royalty fees. It's also totally non-destructive. As far as I understand, all metadata is preserved.
DNG is not perfect. Ideally camera manufacturers would open their RAW formats and publicly document all versions starting from the beginning. They don't. Again, this is not the fault of Adobe.
Absent that, there could be an independent standard that is not created by any company. Even then, I doubt Canon or Nikon would use it, simply because they want to retain control. Think Adobe is the only bad guy? When the 6D puts distortion data into a RAW file, it can only be read by DPP, not even by ACR. Now who has control of your creations?
Since neither of the above has happened, DNG, being open, fully open since the beginning, at least attempts to deal with this situation by allowing RAW files from any camera (so long as there is a converter available, and that's not Adobe's responsibility either) to be placed in a standardized format that can be read 20, 30, even 50 years from now, since the format has been fully and openly documented since the beginning, and is licensed royalty free to anyone who wants to use it.
As of now Pentax offers the option to save files as DNG. So do a bunch of smaller manufacturers. There are also dozens of non-Adobe products that can open and work with DNG files.
DNG is not the optimal solution. Full documentation by the camera manufacturers is. But they're not likely ever to do that. DNG is an alternative. It's not the best solution but it's better than proprietary formats like CR2.