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Paid Levels - Unclear how Admin manual changes in Membership are processed

I setup a paid membership level, connection with Stripe api works like it should (only did it in test mode, so far). But when I set the membership level back to non-paid standard membership as Admin manually, the level doesn't fall back. The outcome now is, that the Member has Standard Membership in its profile, but Premium Membership status for the paid period in its Membership Settings, although the member does actually only have Standard Member's privileges (see picture). What if I have a case when I intend to set it back and cancel the paid membership immediately, on purpose? There is no cancelation button for the member either in Membership settings. Is that due to the product set in Stripe as periodical?

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