JeremyTBradshaw and halbp - let me try and add some context. I don't expect everyone will agree, but you wanted to understand the reason so I'll try and explain. The reason simply is that we chose to only distribute 2019 via VLSC and not via broad public download. Which means not everyone has access to the bits, which makes handing out a free key tricky. So that is the main reason for it, to support our change to distribution for 2019. Why did we choose to switch to distributing only via VLSC? We released 2019 and were very clear (I know, as I did the announcement) that we believe all our customers should be moving to the cloud, particularly the smaller companies who don't buy via a VL program, and this is one way to make that happen. We receive little to no feedback on ability to access the bits from customers. Meaning, those customers that are licensed and want to install it, can get it.
What is also true is that if you are using 2016 or 2019 just for recipient management - there's no functional advantage to 2019. So there's no reason to deploy 2019, with its increased hardware requirements just for hybrid recipient management. Use 2016, it's free and 2019 only complicates things in that scenario.
halbp if you are using Exchange on-prem in the long term for much more than just recipient management, for those things you listed, then expecting us to give you that server for free is where we will probably have to disagree - I think you should pay for that type of usage. If you just want a free mail relay, you don't need Exchange. If you want to use Exchange for features only Exchange can provide - and for more than just recipient management (for which we will ship code to negate the need for it) - you should buy a license for it.