It's the version from when you paid your annual subscription (or 12 monthly payments ago) plus any bugfixes.
So you buy 4.3.2 and you will always have access to 4.3.Z
2 months later they release 5.0.0. Your subscription let's you use 5.0.0. If you cancel your subscription then can go back to your perpetual version 4.3.Z
At least that's how it's supposed to work
Its not any different than how it already was. Initially the GenAI models were all being trained on masses of unlicensed data including data from reddit. The problem is some companies like New York Times are suing for training an LLM off of their data. So in response companies like OpenAI are now trying to reach partnerships that basically license the use of the data (that they already had). This also means that they will be able to continue to have future access to that data as long as the partnership is in place. Whereas some companies without a partnership could start to ban scraping activity or update their terms to forbid training AI off of their data.
Overall these partnerships are a good thing. Licensed training data is good. But from a privacy standpoint, the AI models were already trained on reddit data. This is just formalizing the relationship