Dont worry. 
I once skyped with Andy Brown from the foundry. According to him this is Modo Indie in a nutshell:
-
EULA : Commercial for-profit use allowed for individual use, or individuals of a sole-proprietorship organization where only one license of each variant is allowed
(So you can use it commercially. No ties to the steam world needed)
-
OBJ and FBX export limit expanded to 100k polys
(which is ok for most assets, even characters…)
Limited Bake and Render resolution to 4k
(4k textures are also fine by me. I rarely use 8k textures…)
-Command eval options in the system menu disabled
-Remove Commands, Scripts and results from Command History panel removed except Undo and History
(Its not that super critical to the workflow. More a convienience thing)
-Python editor and third-party script loading disabled
(Hmm. I never have felt the need for scripting in modo. The built in tools always did the job so far.)
-Third-party plugin loading disabled
(again. modo has so many built in tools and poular scripts are integrated in the engine. There used to be a script for aligning verts in a a circle. “Seneca’s perfect circle script”. Now its part of the deform tools.
The same with mesh fracturing. Built in, no script needed.)
-Kit management options from the system menu disabled
(there are still many good ways to organize and manage assets)
-Export is FBX and OBJ only
(Well, FBX is what UE wants… So no real issue at all. And with the new Live Bridge, all the sweeter)
-Can only save in .lxf format, although can still import all formats.
(means it will work fullly together with all installations of modo indie. And you can import work from the “full” modo. You just cant make something in modo indie and then open it with a full version of modo, but if you have access to a full version, you dont the indie in the first place…)
-Image save formats limited to .png and .jpg, .tiff and .exr
(also not that big of an issue. Since texturing and material assembly is so much more pleasent in MARI, all I ususally export for initial work, are the UV maps, which can be exported as EPS)
Network Rendering is disabled
(I use it to model assets for UE and not to create stunning still images with VRay, so not a big issue)