It's also pretty consumer-friendly. Every year I get an email from them around November reminding me my subscription will renew in February, and then a couple more reminders along the way.
I think it's also good for the product, the right balance between the failure modes of being able to milk existing subscribers even without maintenance for the hard subscription and change for the sake of change that you see with classic one-time licencing where reasons for paid updates have to be invented even when there is nothing to improve (edit: how many great products have been ruined by this?).
So I agree, it's a very honest business model.
Pretty good deal if you ask me. Now if only I could do remote development like in VSCode.
We are working on it, stay tuned :)