Does Checkout replace the LMA? Does the LMA still control license status or are licenses active for purchases made through Checkout?

Checkout does not replace the LMA. Checkout works with the LMA to control whether an app or component is active or inactive, as well as how many licenses an organization has. Checkout creates and updates license records in the LMA, as necessary. You cannot directly edit the license records created by Checkout. To change a record, update the corresponding subscription information in Stripe. Checkout then updates the record in the LMA.