No. You can still get a Mac-only license for $120 yearly if you don’t need the web app and only want to use the Mac app to design. However, you’d need to save all your work locally and would miss out on loads of handy collaborative features.
A subscription on a yearly plan gets you a whole lot more for the same price: real-time collaboration in the Mac app, commenting, handoff, and a shared Workspace to bring all your people and documents together. That’s because we’ve evolved Sketch to be more than the Mac app. It’s now a complete platform for design and collaboration, combining the best native Mac editor with tools that work in any web browser.