The 8.5 upgrade was the first version offered as a download, however; the download was not a complete version. The upgrade required 8.0 (only available on DVD) be installed prior to applying the 8.5 upgrade. The complete version of 8.5 was available on DVD too. This was the last set of disks I purchased.
X1 was the first full version/upgrade available as download. The physical media was optional. I never bought the box opting instead for the download.
X2 was the last version with physical media.
If Cakewalk chooses to remove downloads from user accounts, they should provide written notice of the plan with a time frame so users can take steps to protect their purchases.