I do something similar with Fastmail, except instead of subdomain, I use the prefix, e.g. reddit@example.com, hn@example.com. I have a generic one (hi@example.com) for certain use cases but in general I use the specific ones so I know who may have sold/"lost" my email address. It's a lot better than Gmail style plus addressing since some input websites disallow plus emails or have terrible email systems that can't properly recognize it.
The only thing I wish that would go further would be to be able to flag a certain email address to be set to "not exist", so that if someone emails it, it gets bounced back as undeliverable. I set up something similar on my own server a while back using Postfix and Postgres to deal with holding the emails/undeliverable emails but it ended up being a hassle to keep up with and I am glad to pay for Fastmail to not deal with anything but getting my emails.
Additionally, one downside to the burner email services is that some companies have tracked down the popular ones and mark email addresses from those domains as invalid, meaning they really want something that isn't a burner email.