I don't think MAGIX will use USB-Dongles, because their goal is to sell most of their products through the Online channel (their Online Shop). It's much cheaper for a software vendor: No shipping costs, no packaging, no CD/DVDs, just a little bit costs for the webserver (costs for traffic is already included within the flat rate for the webserver). And if a customer have a problem with this, let him speak with the support and reset the Activation count. Easy like that.

Remi