So I download and enable adaptivetheme. It's the only theme on my machine (Mac OS X if that matters).
~/Sites/ra (master) $ drush @my.local adaptivetheme "RA Theme" ra_theme /profiles/ra/themes/contrib/adaptivetheme/at_coredrush: The directory "/profiles/ra/themes/contrib/adaptivetheme/at_core/../at_subtheme" was not found. Drush command terminated abnormally due to an unrecoverable error.
The fix is actually pretty straight forward I think, will supply a patch momentarily.