Even more updates:

" Me: "Annual" means no expiry / no deactivation after one year, just no further free updates after the year, right?"

Noel:
Exactly. We were one of the few companies offering this model even in the SONAR days. How it works is you either pay for 12 consecutive monthly subs OR you purchase a one year subscription upfront. In both scenarios the last months version is permanently unlocked for you and you own it. Many people who dislike subscription are unaware that we always did this. Also, an advantage of our monthly subscription is that once you cross the 12 month boundary you can continue consecutive monthly subs for however long as you want and you would always own the last version you paid for.

All subs are not bad and are actually better for some people who prefer paying in smaller increments. So definitely read the fine print."
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Sounds fair to me.