Well... If my understanding is correct
V1 is still available, assets and all, but eventually there won't be more updates for it. If you don't experience bugs or literally you have no problem with the program, I don't see why would you get a new license for V2 in order to get updates and a few features. But the first lines literally mention that you'll be able to use the program freely, just that there won't be more maintenance of it.
V2, well, is a totally different licence compared to V1, with different features, but with a new version comes new bugs, so yeah, you'll have to update it whenever there is a fix. And it's, I think, a subscription be it monthly or once a year. The theory is that CSP is trying to take advantage of professional artists that works for companies and it's more convenient for them to work with the subscription plan + all the weird features that they require to use compared to "less professional" or simply "those that don't take advantage 110% of the program or use all the features that it comes with"
(Like literally, a lot of people pay for EX to work on webcomics but PRO seems just fine to me?, and I've used both since for CTA you could use a 1 month trial of EX, used it one day, couldn't adapt and just continued using PRO)
Now, V3 seems that is going to be V2 for when they fix everything and has all the updates included, as well for the one time payment to get the License.
My conclusion is... even a discontinuated product can still function, to be honest, unless that they tell me the program is obsolete or that I won't be able to open up a Canvas or... idk use my already downloaded stuff, I couldn't care less about continue using V1 despite I cannot update the program anymore (And to be honest, I barely update CSP because if I don't have a big ass reminder or like, the program itself gives me a notification or prevents me from working, I won't remember that this program needs updating)
I worked with a Genius i608x since 2011 for almost a decade, which I believe it was already being discontinued back when I bought it and had no problems despite I only had the drivers that came up with the Installation CD... and I only had to change the tablet when the pen was utterly destroyed and drawing area was too marked by the nib that it was making the cursor tremble despite I was making a straight line. And so I switched to XP-Pen.
So... I'm.... not worried at all? I was at first when I woke up but after reading the whole thing, no more.