I think it’s more that management in this space is very traditional and from a business perspective there’s not much downside to a subscription. The individual engineers don’t really have a choice in cad package anyway and frankly, the alternatives still suck in mechanical space.

Not to mention, file formats between packages are sort of interoperable, but often the design history cannot be transferred. It’s not like software land where if a vendor goes down (and the code is reasonably structured), an organization can mostly replace it with substitutes.