There are also compat packages in pkg(8) repository - which you can use to have FreeBSD 12.x compatibility on FreeBSD 13.x for example. Thanks to the you do not need to recompile/reinstall your packages after upgrade from 12.x to 13.x for example:
% pkg search compat | awk '/Con/ {print $1}'
compat10x-amd64-10.4.1004000.20181014
compat11x-amd64-11.2.1102000.20181014
compat12x-amd64-12.2.1202000.20210406
compat4x-i386-5.3_11
compat5x-amd64-5.4.0.8.1_1
compat6x-amd64-6.4.604000.200810_3
compat7x-amd64-7.4.704000.201310.1
compat8x-amd64-8.4.804000.20151116
compat9x-amd64-9.3.903000.20170608
Is this model better then LTS model? Its quite similar I would say. You have LTS with incremental updates or you have for example FreeBSD 12.x with security patches and 'major' upgrades with 12.1, then 12.2 etc.The better thing in the FreeBSD world is that pkg(8) packages are ALWAYS up to date (or upstream) while the FreeBSD base system (12.x or 13.x) remains at what it is. This way you can stay on your prefered supported FreeBSD version and still have latest software with pkg(8). This is simply not possible on Ubnutu LTS or RHEL systems where packages are outdated and old very quickly.
Hope that helps.