Earlier quoted context omitted.
Subscriptions often don’t allow continuing use of even existing versions of the product after you stop paying - it’s not just about access to future updates. The main exceptions are subscriptions that are explicitly for support and maintenance contracts on top of a perpetual license. There are also a few unusual business models, like JetBrains offer for subscriptions that last at least 12 months which grants a perpet…
Correct, and you're no longer paying so that's okay? It is unfortunate if the software stops existing but there is not a financial issue.
The best way that I have to describe it is in the first option you're buying a version of the software and then paying for updates and bug fixes in a flexible manner, while in the second option you're leasing use of the software for as long as you continue to pay.