Well it looks like they found some references to subscriptions in an INI file, but that doesn't mean it will require a subscription. It would be insane to try to sell new PCs with a trial Windows 12 license that'll eventually require a subscription. I can't imagine Windows could ever switch to a subscription model without a "base" version that's a one-time purchase, even if it's just for new PCs.
The references to subscription were related to IoT Enterprise Subscription, which has nothing to do with the consumer facing OS that we all use. There's also no mention whatsoever of Windows 12 in this leak, or anything else coming from Microsoft, except for NeoWin's clickbait articles where they slap the 12 and make false claims without any basis, such as the one pcmag based this article on.