My personal opinion is that this business model is simply not sustainable long term except for cases where the subscription model is a natural choice (Netflix for example). If I had to pay subscription for every piece of software I own I'd be ruined. With perpetual licenses however I only update / upgrade when I feel there is a benefit in it for me. Otherwise that old copy keeps working. I suspect I am not alone here.
As for not being relevant: so far I do not feel any lack of software offerings with perpetual licenses so allow me to disagree. I maybe irrelevant to your strict business model but not to the overall market.
That's a very good point.
But also neither here, nor there. That's here the market seems to go, and it seems to indeed want us all ruined.
Or, rather, living paycheck to paycheck to pay those things...
Well, this makes you irrelevant as a target customer in this heavy subscription/SaaS 2020 market.
There are others like you. But not many enough to make it worth focusing on them, plus they'd be more picky and have all kinds of other demands too that regular users don't have.