Yes, but they eventually stop receiving updates, so you have to spend another $250 to get the newer version. And if you bought, say, Office 2021 just before Office 2024 is released (by necessity, for a new employee, say) then it has a significantly shorter lifespan. And you HAVE to spend this money because it is impossible to convince people they don't need Microsoft Word.
That seems different though. If you are paying a fixed cost for offline software, you are not entitled to updates for it, that seems like wanting to have your cake and eat it too.