For desktop software I think JetBrains have the right model here; it's a subscription, but at the end of the year you have a perpetual license to the version from the start of the year.

If I decide I don't want the subscription with updates I can just cancel and fall back to that version.

Otherwise the subscription ensures that there will be a new version coming along and that the users are the customers.

It feels fair to me as a customer.