But there are interesting situations, e.g. video on demand. When there was essentially only Netflix, everybody was fine paying a subscription. But now there are many different services with exclusive rights on some content, so people have to choose between paying multiple subscriptions, alternating between subscriptions, or going back to downloading content.
Meanwhile the VoD services get more expensive and add ads on top of subscriptions. Not sure if that model "works".
If they're not offering you value then cancel the subscription.
But that doesn't mean the end of subscriptions. It means that services that don't offer sufficient value go away.