The maschine binding is probably not ideal from a user's POV. But it is not that big issue tehn again. If your maschine goes kaputt - you get a new license.
If you want to upgrade, sell teh old maschie with license off. May lead to a little loss, but that's it. Before registering you have enough time to evaluate it. The demo version is 100% identical to the reg'd version except that it will slow down after 30 min (a warning is issued a minute before) and you have to reboot. But I agree, ideal for the user is a version wothout keys at all. But then again it is about fairness. There's a trade off between cnvenience and ROI for the development. Difficult to balance, though.
For me it's a big issue, big enough to stop using MorphOS after 7 years. I don't mind paying for a license, as a matter of fact I did.
I don't want to be bothered by selling my computer with a registerd MorphOS copy just to upgrade to a better computer or convince the MorphOS team my computer is broken. I just want to be able to buy better hardware if available and supported by MorphOS and use my registered MorphOS copy on that without any fuss.
As long as that restriction exists I'm not going to invest in MorphOS again.