The subscription model makes sense for some software, and it does not for others. The problem is that everyone is trying to push the subscription model just to make a steady cash flow.
I am a subscriber of Microsoft Office 365, and I think it is worth it. For paying USD 100 for an annual subscription, which allows me to have multiple copies installed, use it on the cloud, and have 1 TB available on OneDrive. Just the 1 TB alone on Dropbox would cost me those same USD 100 a year. Google Drive would be cheaper, but it would not include the full set of Microsoft Office software.
Now, the problem is everybody wants to have the same model, without offering anything else. Every obscure software developer wants to rest on the laurels of software they created in the past.
I remember I bought a copy of Austhink Rationale 2 (a lifetime license) back in 2012, and I paid USD 69.00. Now, Austhink is offering Rationale Online, which is basically the same thing, and the yearly subscription costs "only" €45 for a basic plan. This is of course unacceptable.
Another example is Copernic Desktop Search. It used to cost some USD 49.95 for a lifetime license. Now, they want you to pay USD 14.99 per year for a basic subscription. If you want the full version, expect to pay USD 55.49 every year. They can only be joking.
In these cases, the subscription model is a scam, as the cloud does not offer any additional feature other than a regular paycheck to the developers. I am only paying a subscription when there is actually a service that is provided continually to me, thereby justifying monthly payments, such as Microsoft Office, Apple iCloud, Apple Music, Spotify, Netflix, HBO Go, and so on.
I am not paying regularly for software which is static, just to get bug fixes (which the developer should provide anyway, to fix problems of the software he created).