"Microsoft's traditional model only worked if customers needed to routinely update to the latest version, and so pay for it"
That model worked fine when the format of a .doc file changed with every version so victims had to upgrade whenever someone sent then a file in the new version.
Then they got sucked into having to arrange an international standard format for themselves. Now they can't play tricks with the file format. They got round that with a change of UI so that once a cohort of new recruits had been trained on the new UI by the MS education programme hit employment they had to have the new version bought because they couldn't use the old one.
You can't play that game too often so they discovered subscription - lock-in on steroids.