It could last a very long time, though. It's a privately owned company, so if they keep it that way, there's no board to satisfy with big payouts and stock holders to appeas. There's a lot less bullshit to deal with when you're a private company.
Also, drm and online registering is way older than steam.
The best drm was back on floppy drives. You needed a piece of tape to cover the square hole so you could copy the game for your buddy. Lol.