You didn’t buy and you don’t own the software. You bought the right to use it according to the user agreement. So, when you pay for Elements, you are paying for an expanded usage option, not paying for the software again.
You are carrying a dongle which costs $30, not $1000. The licenses on the dongle are recoverable provided you have registered them. Granted, there is inconvenience involved, just like losing your driver’s license or a key.