I like paying for updates every year, if they are optional and actually bring new features that I want - i get those new features upon payment for the update - at a discount.
That is how fusion 2 to fusion 2.5 transition worked. Guess what, I still have the installers of both products and there is no timer
Another problem of the renting model is that you do not get to keep old versions of the game engine and can't roll back. But game engines constantly break backwards compatibility in order to improve old designs via complete refactoring.
One day when construct 3 becomes phased out for construct 4, nobody will be able to run it, because the thing is not pinging the discontinued server to check their license status - or it is by design forcing them to upgrade
Once support is dropped, the product can not become abandonware even. Your old game projects tied to it's version - dead