I mean .. it's just a static HTML editor at that point (maybe it does some includes/builds to simplify things). If you're just pushing out static content, you don't have to worry too much about outdated libraries and security issues, so long as the web server it's being served from is maintained and up to date.
"Dreamweaver Templates" was basically an early static site generator that made it really easy to design and include site-wide or section-wide elements.
Yeah you could always edit the individual files that it outputted, but in some cases people were using this system to manage sites with hundreds or thousands of pages. As recently as a couple years ago it was how the natural history museum in DC managed their site content.
