You get mandated internet connection, and a need for a MS account to use windows.
also forced updates are still there (ToS, allowing them to install, remove stuff from your pc)
Bolded: Needing the MS account is only for the Home version and im pretty sure you only need internet on setting it up.
All other versions dont need an MS account or an internet connection to set up. But if your running windows why wouldnt you have an MS account anyways?.