Buying Studio grants a lifetime license to the current major version only. It's just that DaVinci has been upgrading everyone for free with every major update.

Buying Studio grants a lifetime license to the current major version only. It's just that DaVinci has been upgrading everyone for free with every major update. They can stop doing that at any moment. Not that they'll ever do that. Resolve / Studio is their loss-leader product to pull people into their very premium camera ecosystem.