I think it is a good idea to make multiple versions of the same software, but with different prices and features per versions since it allows people to save money by paying for what they need instead of paying a higher price for features, options, software, etc which they are unlikely to use, and will be just taking up space on their computer hard drive.
I think it really depends on how many features you gain/lose if you choose to pay/not pay for them. Different editions for different things, like for image editing software you could have a photo-editor's pack and a digital artist's pack. So yeah, generally I think it is a good idea