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It's better than just becoming subscription-based, though. The paid features are now free and the subscription-only features are new.

Not true. The webapp was purchasable for $9. Now customers will lose access after the 3 year grace period, and it will only be usable by subscribers.

Oh, you're right! "We aren't locking any existing features behind a paywall." misled me. Hmph. Now I'm feeling tricked.