Great question — answering as the UphillTech team:
Yes, nowadays. This is covered in the systemd manual. The value in /etc/machine-id was originally not a valid UUID, because the systemd people did not originally write correct code for generating a version 4 UUID. But this has since been fixed. If you bind a licence to the machine ID, be aware that it can change … … if someone deletes /etc/machine-id and it gets re-created at next bootstrap; … if /etc (usually on the root volume in practice) is not mounted read-write at bootstrap, /etc/machine-id is invalid or missing, and /etc cannot be later re-mounted read-write allowing /etc/machine-id to be written; … if the disc volume containing /etc is replaced with another, different, disc volume...
Full answer by JdeBP: https://unix.stackexchange.com/a/395460 (CC BY-SA 3.0).
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