It depends where you want developers to focus their efforts.
If you want them to focus on making the product better for existing users by continually reinvesting in operational excellence and improvements, subscriptions make a lot of sense.
If you want them to focus on flashy features that may or may not actually be useful, but which look good on a store page and convince new people to make that one-time purchase, subscriptions are terrible.
Me, I am happy to pay for value received, and if I receive value over time I’m happy to pay over time.