They are offering free upgrades to newer versions of operating system instead. The only case where you're not getting it is when your laptop has been EOLed by Apple, which is effectively the same thing.
I personally gave up on an old Lightroom version that was pre-CS cloud, and could see more professional people clinging to specific version of apps for whatever reason (private plugins, specific Apple scripts, standardized manual procedures etc.).
There must also be enterprise software that still weren’t recompiled or the vendor went under or threw the towel.
Those are a minority, but sadly we see that on every breaking change.
Yes, it's no longer being updated, which is why we're stuck on the 32-bit version for MacOS.
I've not gotten it to work in Wine/CrossOver, but perhaps someone more skilled than I am could get it to work. I've just used it in virtualized Linux for now.
Moving to a virtualized instance is an option, but then I wonder how PITA it is to keep the virtual one secure.