Are VMware SNS licenses with PowerEdge servers perpetual or time-limited?

Hi, All,

I have recently noticed, that OEM VMware licenses with PowerEdge servers are sold now with VMware SNS description, for example, VMware vSphere 7 Standard, 1 CPU (max 32 cores/CPU socket), 3YR VMware SNS. Does it mean, that such licenses are sold as Subscription and Service (SNS) and have 3 year operational limit?  I don't understand - is this license perpetual with 3 year service contract or it's Subscription for VMware software on 3 years with service contract?

Does anybody know the answer to this question?

Thank you in advance for any ideas!