Lifetime thing is a rather large statement, especially with software though isn't it?
Most of the pre-subscription model compares were never lifetime purchases.
Software that needed paid purchase update every 3-5 years to get OS support / features.
No software I used in 1995 will run on my current computers. Even 2005 or 2010 is dubious in some cases.
Content constantly changed delivery mechanisms and people had to buy new media/devices every 5-10 years
VHS/Betamax -> Laserdisc -> DVD -> Bluray / HD-DVD -> Bluray 4K
Vinyl -> 8 track -> Cassette -> CD
For many things there are cheap/free alternatives or you can opt for the fixed cost up front version.
Paper books/eBooks/CDs/DVDs/MP3s can still be purchased outright.
Streaming services have ad supported free tiers.
You can go to the library, turn on the radio or tune into over the air TV signal.
You can buy an old version of photoshop/lightroom put it on an old computer, and don't expect updates.
Etc.