I've made my peace with subscription services.
For starters, it makes more sense when you are younger, I think (not that I am terribly young, or accusing anyone here of being old). If you haven't already invested in your personal library, having access to hundreds of titles for one low price is a nice way to instantly have one. But over time, as your personal library grows, the value of that as a service goes down.
That said, having a library is only good if you use it. Granted, a few people do have books and albums just to set on a shelf an look at (guilty of that myself to some degree), but if you don't listen to the music, watch the movies, or play the games - then it's pointless. For music, I value the diversity of a large library a lot - having a lot of various tracks to play through at any time is of high value to me, and if a bad track plays, well, 3-5 minutes of my life while I wait for the next (or hit skip) isn't so bad. For movies/TV/games/books/etc, I don't randomly select titles to there- I'm fairly specific on those. A few hours of my life isn't something I'm willing to give over to a bad experience, and they are a much larger investment in my time and energy.
And you need to churn out quality stuff if you want people to stay subscribed.
So if you want to have a subscription service with something more substantial than music, you need to bring the goods. Netflix I think realized this shortly after prioritizing digital. They knew if they were beholden to the content providers they would never be able to turn a profit, so they invested heavily in their own content creation. I would say their success with that is a mixed bag, but you can clearly see how it's costing them and what they are trying to achieve. That's also why every single content creator (HBO, Disney, CBS, NBC, etc) are all making their own streaming services, and guarding/walling off their content jealously.
Same thing with gaming.
So, all that said, back to my original point. I'm ok with subscription services.
For starters, when you can just sign up for a month, pay something fairly low, and play a game that would have retailed for $60+ -- that's not too bad. Granted, I may eventually lose access to that game (either because I drop my subscription or the game drifts off the service), but by the time I do, it probably won't cost $60+ any longer if I wanted to retain access to it. As for the argument that you could end up paying a lot more than $60 for access to that title -- true, if you just look at one title in a vacuum. But the value of the service is that you get access to hundreds of titles at the same time -- that's where you have to make your own value judgement. The biggest benefit I see in these subscription services is that you aren't locked into a long term contract; you can just sign up for 1 month and let it lapse after you are done with whatever content they have at the time. I've done this with XBGP a couple of times, and got to play a few good games through for $1 - and I'm done with those games now.
Second point would be, that even if you buy the game, you aren't guaranteed access to it, and you don't own the game, you only license it -- you only own whatever physical media the game came with. I can point to a lot of titles I've "bought" that I can't play any more, because they've been shut down or lack updates to run on modern systems. I happen to play a lot of multiplayer / MMO stuff, so I guess you could say "well, I only play single player games, so that won't happen"... and... maybe, but not necessarily. I can still think of a lot of single player games that didn't get shut down, but they haven't got updates for anything past DOS/Win95/old consoles/etc, and you have to jump through some considerable hoops to trick them into running today, if you can at all.
So, if you don't like subscription services, I don't blame you much - it's a value proposition for everyone, and if you just play a handful of titles heavily, it won't make any sense. But if you dabble, or are new to a platform, or just want to play releases to beat them once and be done with it - it ~can~ make sense. Provided the content provider can keep the price down low enough and provide a deep enough library of content to allow it to make sense.
