I'm afraid, version 5 no longer parts out the applications. It is required to have all of them to operate as they are dependent upon one another now for a better community product/experience. The Classic license takes this in mind and also other factors of the software maturing to a point where we want to keep self-hosted but also ensure it is a viable product for both our customers and us for the foreseeable future.
We certainly understand that and why it is an annual license. You certainly don't have to upgrade right now unless you want access to version 5 beta. We plan to support version 4 for probably at least a year or so issuing security releases so you can certainly stay on version 4 till the time is right to upgrade.
We also see that $199/year is great value for our software. Even if you had just forums on our previous license structure, you're paying close to $100 per year to have that. For $99 per year more, you can have everything we offer and potentially recoup a lot of that with extra features/services you can offer your members. That previously would have been significantly more money, at $300/year.