Yes, my understanding at least is that Google Play will continue to allow you to download and use the app if you've previously purchased it.
Confirming this, To test, I deliberately uninstalled Launchbox, went on Playstore 2 days later, went to my library, redownloaded and installed Launchbox with no problems (Sat 10 October 2020) so all is good
The State of LaunchBox on Android
in Android
Posted
Confirming this, To test, I deliberately uninstalled Launchbox, went on Playstore 2 days later, went to my library, redownloaded and installed Launchbox with no problems (Sat 10 October 2020) so all is good