It's not broken. You're basically buying that version of the software with some benefits for a year; and they make it nice and easy to get the next version with benefits. If you decide to quit, you leave with exactly what you already paid for in the first place. Sure, it's not as nice as the Sublime Text model, but it's a fair, decent, and non-broken model.
In contrast, subscription software expects you to pay in perpetuity so they can take risks with your money instead of their own on new versions and features. Generally nothing is guaranteed to you at all, only access to whatever version of the software is current. No guaranteed support, upgrade times, or anything. And when you leave, you get nothing at all.
