I would be very happy to switch to subscription-based pricing. I think we should finally abandon the idea that software can be "purchased" once and used forever. It's unrealistic. Developers need money to fix bugs and adapt the software to new operating systems and environments. Users will not keep the current OS version forever. And yet we still play that silly game where developers have to announce "major features" in order to justify getting some money once every several years.
There are several essential utilities that I'd gladly pay a subscription fee for. I don't want new features, I just want the software to be regularly polished, I want bugs to be fixed and I want it to work with newer OS versions.
That said, I consider $48/year to be too high a price. I'd be willing to pay $20/year for TextExpander. So for now I'm not subscribing, and I'll see what happens. If the price doesn't come down, I'll have to look for other solutions.