I think I agree with you on this.
My issue with this new EULA is if it is to "protect" developers, than I would say that anyone who is member of extension library subscription and buys the solutions should always have a developer license - even on new solutions (not just the old ones).
This new EULA doesn't as much protect me as a developer as it does prohibit me from using the WA solutions as an option in my arsenal of tools to deploy because the value of having to buy the same solution over and over would diminish the value of it altogether. Not only that, it still wouldn't combat the issue developers have with would-be client's who will buy it for a "one-off" solution. Remember, the one-off clients don't use these solutions the same way as developer would.
My honest thought is that the EULA will just impede developers from using the solutions - not protect them.
Don't get me wrong... I am a huge supporter of WebAssist and I think the WA team has great intentions and creates great products, but I do feel this EULA is, perhaps, misguided at best.