40 € includes one year of updates, if you want lifetime updates, you have to pay 200 €.
Good old Total Commander, the all-time classic alternative file manager for Windows, costs 42 € + VAT with lifetime updates (https://www.ghisler.com/order.htm). But yeah, I have to admit that the application looks as dated as the website...
40 bucks feels alright but 200 (five times as much !) feels excessive. How much priority support does one need for a file explorer?
Also yes 200 gives you free upgrades but you have to assume there'll be many years of development and many upgrades to recoup the cost vs buying the regular license.
I'm a long time Directory Opus (dopus) user which costs around 50 US$. Dopus is more extendible but probably not as fast. Seems like a reasonable price to me. When you deal with a LOT of files like I do as a game dev it pays for itself pretty quickly.
Then I looked at the pricing... wow, you really gotta dislike explorer.exe.