Can you list any examples of companies that have done this well? The products I have used that tried this either stopped trying it (Ulysses articulated it really well) or devolved into shinier objects. In practice I think it's pretty tough to pull off.

TablePlus is a good example. I buy their product and in exchange I get a year of updates. After that, it keeps on working without new features or updates. If I want new features or updates after that, I buy it again. Otherwise, I can keep on using the version I have pretty much until it stops working due to e.g. platform changes.