Forget about what’s cracked - the Propllerhead approach is similar to Waves, in that one is given alternatives. I suspect the Balance interface method would be the least utilised, but then they still offer internet verification, like Presonus and Ableton, as well as the USB key.
The smart bit about the Waves approach is that allow the user to move the license(s) around. Also the USB key is not some special piece of hardware, it can be any type of flash memory.