The free movies are largely older stuff I'm not interested in. Likewise, the free books are often from no-name authors and, while some of them are good, the rest are meh. Free music from Amazon Music is useless if you want to play music on your HomePods and is less than useless if you already subscribe to Apple Music, as I do.
And to top it Amazon's 2-day shipping isn't 2-day, it's more like 5-day these days. Sure, the pandemic is a convenient excuse but purchases from Walmart, Costco, Boxed.com, and even Chewy arrive as quickly if not more quickly--and they are dealing with the same pandemic issues. And those sites don't charge me a monthly fee to get "free" shipping. Furthermore, even before COVID-19 struck, Amazon was routinely failing to meet their shipping promises. See my earlier post.
(Admittedly the minimums for free shipping at some of these sites--most notably Boxed.com--are ridiculously high but the only things I order from Boxed are things I can't get anywhere else: hand sanitizer, sanitizing wipes, etc.)
As for the discount on annual Prime memberships, the problem is that if you get disgusted with Amazon's failure to meet their delivery promises midway through the year, you can not cancel your membership and get a pro rata refund. Using the pandemic as an excuse, Amazon has unilaterally suspended their delivery promises, yet I don't see them offering a refund to customers who do not buy into their excuses. Contractual obligations should work both ways, but Amazon doesn't seem to think so--you remain obligated but they don't. Not worth paying $130-150 a year for. No way.