No that is incorrect.
I purchased Padshop Pro 1 as a separate product on its own a while ago. I never purchased any upgrade to it.
I then purchased Cubase 10.5 Pro which includes Padshop Pro 2. When I installed Cubase Pro 10.5, the installer installed Padshop Pro 2 on that computer and overwrote the version of Padshop Pro 1 that was already installed on that machine.
That purchase and license of Padshop Pro 1 that is just sitting in my account got wasted when I purchased and installed Cubase 10.5 pro.
That is why I think it would be good for Steinberg to change their policy on Padshop Pro 1 and allow us to reactivate that license and move it to another computer if needed. I should be able to move that license to another computer if I want to as I purchased it and it’s no longer usable on the computer that has Cubase 10.5 installed on it. And no, i don’t want to keep unplugging the USB dongle and use it on a laptop just so I can use padshop pro 1 on the laptop as its a unneeded risk to damaging or breaking that USB eLicnese dongle or the USB port.