Microsoft sells Office 2019 for $250 (student version is $150). Office 365 Family is $100, can be used on your Mac, PC, iPad, iPhone (up to 5 different devices at the same time), does not require any upgrades and can be shared with 5 others - each of which gets 1TB of OneDrive storage.
It just doesn't seem like the standalone version is a very good deal anymore - especially if you always upgrade. I had been using my old Office 2011 up until two years ago, but it started crashing too often. I dislike subscription software, but this just seemed like a no-brainer and a surprisingly good deal for Microsoft.
Now, I suppose I could make do with the iWork apps, LibreOffice, etc. since I'm retired now. But for $8/month I didn't see any reason not to stick with Office. I use LibreOffice to access my very old AppleWorks/ClarisWorks files though, I don't think there's any other way to do that. It's great that open source software like LibreOffice is available, but it feels really slow and generally awkward to me.