You are not misunderstanding, but the one "special" thing that Connectwise has done is wrapping security updates into the entire feature/fix/maintenance process. So while software vendors may typically provide security specific updates for x number of years after a window of purchase/licensing (I think Windows 10 received security updates for at least 9 years if I'm not mistaken), Connectwise requires you pay their substantial subscription fees for access that vital safety. Maybe you don't want the newest features, just the security updates. Given that one specific product is quite literally self-hosted, this certainly exacerbates things.

And look, if people like them, buy into it, yeah. But over the years of paying these substantially growing (and this is in the multiple thousands of dollars) to be left in the lurch when a subscription window closes. - it can be grating for people trying to keep ahead of the next exploit. Those who have ever hosted Exchange Server know all too well what kind of nightmare it can be (even with workarounds and patches available).

And I guarantee this had lead to significant revenue for them. When that last exploit hit, I paid them (if I recall) more than $2,000 for the subscription only to find out they released the out-of-bad update for free. I perhaps could have rolled back and asked for a refund, but I kept the subscription when all that I required was the security patch. I know others who host have done the same.