This is indeed really very sad news and my heart goes out to the many dedicated Cakewalk employees who are affected by this announcement. Like many others, I too first started using Cakewalk in the 90s on Windows 3.1. It helped define what computer music is today.
The software industry is tough. The music industry is tougher. The intersection of the two is deadly.
I purchased SONAR a couple of years ago, but after the death of Sony Vegas I moved to Mac, which of course precluded me from using SONAR.
Constant issues with software products being discontinued, DRM, the need for an always-active internet connection and relentless software updates eventually drove me to exclusively using hardware for music production. Whilst I don't have all the bells and whistles of a DAW, I'm happier and more productive. Furthermore, I own the hardware in perpetuity and can use and modify it however I wish.