Yes, built applications will continue to work like they did so far. This means for the LabVIEW runtime you can install it and your executable on any computer you want and run it.
Eventual Runtime licenses such as for IMAQ Vision etc, will still be per machine licenses and not leases, just as they are now.
The Realtime and FPGA Module will be also a software lease but you only need them to write and build the compiled code, after that you can run them on any licensed hardware just like you do now. Deployment will of course only work from a licensed LabVIEW Development system with activated Realtime Module but once it is deployed, the target can run for as long as you want without limitations by a software lease. If they ever would change that that will be the day our company will definitely stop to use LabVIEW. We can not have a machine stop execution because the NI license server takes some vacation or some software lease has expired.
The Debug Deployment licenses of the different NI software products will also stay as perpetual licenses. They are in principle the same as the Development system but you only have the right to use them to debug an application, not to write and build it. They are meant for the computers on the factory floor where you want to run your built application but may need to be able to also execute the VIs in source code to debug problems on the real hardware instead of on your development machine.