I'd say it's dishonest in the sense that a company knows the probabilities are such that they can't actually ever truly support a lifetime license, so it's a lie from the start.
At the end of the day, companies usually go out of business or else sell themselves to another company within a certain number of years. And a new company (like in this case) may change their mind about lifetime licenses, because it's a totally different set of owners with different priorities. "Everybody" knows this, but company management knows it even more than consumers, hence the dishonesty.
As a rule of thumb for consumers, anything supposedly perpeutal or "lifetime" for consumers in the business world is probably not even going to last 10 years. It's effectively always a lie.