MS will always need to be able to activate the software more than once. With the current systems if you reinstall and activate too many times too quickly using the same activation code the automatic activation will fail. I have had this happen before when I reinstalled windows 8 to get a clean install after having installed the upgrade on the same computer. The only difference was the hard drive.
I called them on the phone and they asked me how many computers I was running the software on. Duh one. I just told them the old drive failed and I needed to reinstall on a replacement drive. They activated me no problem.
I'm fairly certain they will be able to do the same with windows 10. They know that hardware breaks and parts have to be replaced from time to time.
Also with windows 8 the downloaded install asked if you wanted to create an iso so for an offline install. That may be an option for windows 10 as well.
I registered 2 of my computers for the upgrade but I will wait to run it till I am certain of the procedures and make an image backup of my system before beginning.