I personally think the link above is pretty clear.

'Poser Pro 11.2 is a "bridge" release. It does not contain epic new features, but rather bridges differences between the old Smith Micro version and the new Bondware version of Poser. This means things like license management, software distribution methods, branding, asset store search and so on, have been updated.

But the main reason for the update is the depreciation of Smith Micro's licensing system and implementation of Bondware's licensing management for versions above Poser 10 (Poser 2014 Game Dev, Poser 11, and Poser Pro 11).

If you do not update, your Poser may not work if you have a version above Poser 10 because the licensing system will not be able to complete the over-the-internet check needed to confirm your license key.

If you want your Poser to continue to work properly, you must update.'

The above indicated versions were applying SM's 'phone home' licensing system which will now not work due to SM no longer owning Poser. Bondware is providing a free update to be compatible. It's a bridge release to fix the SM server to Bondware server issue that the above indicated versions faced. Bondware is, I personally think,. pretty clear that those owning the versions described should update because the previous owner's licensing system will no longer function and they'd like us to keep using Poser and they're giving us some nifty new content to sweeten the pot the inconvenience of uninstalling and re-installing means both in time and work on our side.

For what it's worth, I find this reassuring for the future of Poser and for my own desire to continue to use the software. I am not a content provider, a Python guru, or a software expert. I am an user, who tinkers with digital art and has some little disposable income to spend on her toy she uses almost every day. Your mileage, of course, may vary. But I'd like to express my gratitude here for those who worked behind the scenes or published communication to us, end users. Thank you.