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Windows 12 May Require a Subscription
(www.pcmag.com)
This is a most excellent place for technology news and articles.
Am not convinced this will happen with Win12 or anytime soon. Microsoft realizes if they did this they would be losing monopoly over desktop operating system and with that they will lose a lot more than just OS money as people will migrate towards alternative software, like Google Docs or LibreOffice. What might end up happening is subscription based pro edition or something similar. If there's ever subscription for all of Windows am assuming they will make it easy to pirate.
Maybe the subscription edition means that it will be a different tier, so you will buy Windows for cheaper, but you have to pay a monthly or yearly subscription.
Or it has some connection to your Microsoft 365 subscription, and it would give you more Copilot/Other AI features.
This feels most likely to me too, though maybe even for an Edu or "managed" Windows install of some kind where you get more support and more opinionated stable installs or something. Sort of like Windows S mode but maybe with more help.