License (one-time) fee vs subscription breakdown: The license is for a single platform and single version, website version only. Windows or Mac, not both. If you have both Mac and Windows computers then you have to pay twice (2x $50). If you're crossing platforms like that then you'll also need to provide your own cloud or storage point to sync between the two, too.
In short, really it makes no sense to license. See if BitWarden is suitable for your use case.
I like 1Password, but don't want the hassle or the sub fee. So, for me, what I've done instead is this: For at least the past three years Parallel's offers a bundle deal, they sell you the new version for $50 and throw in free 1-year trial subs of a bunch of programs, of which, 1Password and Acronis True Image are a part of.
After the 1 year "trial" ends, I export my "vault". Activate the new 1-year trial. Then import last years vault. This gets me the latest version of Parallels, 1Password, and Acronis backup.