Yeah that sounds a lot like the classic:
buy this software and it comes with a 1 year support contact. You can download any new releases that occur while you have n active support contract. if you don't choose to continue the support contract once it ends, you can continue using the latest version released while you have the contract (and possibly older versions too).
The big difference though is that with this model the consumer gets security, bug fixes, OS compatibility updates, etc even after the subscription/"support contract" has ended. This may have the downsides of possibly getting new bugs over time, or gradually accumulating new menu items etc that you can't use.