The last few years of Splat almost all of us paid about $150-200 for free lifetime updates. So after that it was free. I think the idea was Cakewalk was going to make their money from the Cakewalk store with FX, soft synths, books, videos, etc. I assume Bandlab will do the same.
Free is fine, I see no evidence that CbB is behaving any differently as during the Splat days. With Noel and others on board, we're in great hands. I like the idea of Bandlab owning Cakewalk far more than Gibson or Roland.
During the paid days of Splat there were plenty of bugs that weren't fixed. It has nothing to do with free, it's all about using resources wisely to fix the important bugs first and the smaller ones after that.
Considering everything that's going on I give Bandlab an A for this point in time. I have no doubt they'll keep trying to improve CbB.