Yes, those are options. And maybe that is why Presonus feels like they need to be more liberal in their licensing. Nonetheless, I find it a very undesirable restriction.
Here is a real world example. I am halfway through a project that I am supposed to be turning over to a friend who has S1 V4. This was to be an opportunity for him to dig in to learn S1. He bought the V4 license awhile back but never got around to learning it.
I just paid to upgrade my V3 to V4, specifically so I could do this particular collaboration. If not for that, I would probably have remained at V3.
Once V5 was announced, I was entitled to a free upgrade to V5 because my V4 upgrade was so recent. So naturally I upgraded to the latest version. I had finished my work for the collaboration before upgrading. So in this case, I can send the V4 material to my friend when he is ready. But if I need to do any further work on it, I MUST do that in V4 because there will be no way to do it in V5 and still save in a form my friend can open. I really don’t want to juggle my 5 licenses and I doubt my friend wants to spend any more money on upgrades until he has the time to really immerse himself in the technology.