No. Blackmagic Cloud is different.
You don’t need a DaVinci Resolve Studio license to use Blackmagic Cloud, nor do you to save your projects in a blackmagic cloud project library.
You can also use the activation key on two separate systems concurrently, and via the help menu deactivate it to move to a different system,
Finally, Take a photo of the activation key and put it in a secure location. Treat it like cash. If you lose it it’s gone.