This seems fatalist. Free software isn't dead, and indie software hasn't died because the notion of "purchase and own for life" isn't a sustainable business model.
In the 1980s, buying a new computer often meant buying compatible copies of software you already owned. It was a treadmill of support that did keep computing alive, but also prevented ordinary people from investing into the hobby as fully as they liked. Many of the boutique developers from the 80s would go out of business in the 1990s, when home computing proliferated to the point that they couldn't profit. Both FOSS and commercial software development persisted, despite the predictions of unfathomable hellscapes by the advocates of Franklin Computer et. al.
In my opinion, what changed was customer sentiment. 15 years ago, in the halcyon early days of the iPhone, paying $5/month for a SaaS or $10 for a novelty app was exciting. There was a (naive) belief that spending "the cost of a cup of coffee" would contribute to the betterment of society once Apple and Mastercard had taken their cut. But it never panned out. Brand loyalty is as foolish in software as it is in hardware.