I purchased Office for Mac 2011 in the spring of '13 and one of the selling features was 'free upgrade".
Lo and behold, the 'free upgrade' was the privilege of RENTING the software at $10 month by converting to Office 365.
Felt mislead, but kept the product since I had the feeling that the days of being able to purchase "Word" are numbered. Heck, at $10 month you could instead buy all of the Apple offerings (Pages, etc.) in no time.
BTW, called Microsoft support since I wanted to add Outlook (by purchasing, not renting) and the sales rep advised me: a) Can't buy Outlook as of 5 days before my call; b) not to upgrade to the 'rent' model. Still trying to buy Outlook (at a reasonable price), but that's a story for another day.