It’s a Steinberg license, isn’t it? I REALLY don’t want to pay $250 if something happens to my elicenser… I’m so freaked out by this that I’m afraid to even use the product, because if something happens to the elicenser I won’t be able to access any of those projects 
what that actually means is if your elicenser somehow breaks or becomes unusuable steinberg cannot replace your nexus license and you would have to contact refx and depending on what licenses you have and ship the broken/unusable dongle to refx or steinberg
But no dice if it gets lost or stolen 
if you lose the dongle you have to buy the software again from refx which is bullshit imo
i dont buy from companies with bad policies like refx