Sadly I find myself feeling the same way (as a consumer). I don't really want to pay > $5 for a game. Yet, I don't like microtransactions... so I generally just play the free part of a game until I get bored and move on.
PS: i recently ran in to a game for people like you and me. They give you the premium stuff for unlocking a few (surprisingly achievable) achievements. Yay devs! (Its BADLAND)
The Apogee shareware model was extremely successful in its day but was predicated on certain assumptions about marketing and distribution that are no longer true. A standard scenario is that you'd read about the game in a magazine, play the demo episode on the accompanying disk, order the full version by fax or telephone and then have it within a few days.
Games based on the Apogee model were designed from the ground up to demo well and hence monetize well.
i.e. You can play through all of the Doom shareware episode and enjoy the entire experience of playing a complete game.
It's hard to say it didn't work, when it did work very well for many years. Today, games just aren't produced like that I guess. But I guess the equivalent would be say, a Grand Theft Auto Game set in NYC, with what's just the part of the game where you're locked onto one borough/island, and where you complete enough of the game the episode has a logical "conclusion" or "finish". If you want to play more missions and see more story arcs that include other boroughs you can buy episodes 2 and 3. (this is also different than the DLC approach in some important ways).
I'm an indie developer and my paid games have done very poorly. It's just so much easier to convince someone to download my apps for free, and then try to upsell them later on. I've also resisted bags of coins, but probably to my own detriment.