Yes. I feel that, because of the currently constantly changing nature of hardware and software platforms, subscriptions are going to be the only way of sustaining a business. It’s no longer even software as a service, but software IS a service.
The only exceptions are situations where hardware and platforms change slowly or not at all. e.g. Single player video games (and even that is largely consoles), certain kinds of embedded, etc.
People are already becoming frustrated with all the subscriptions they have, though. People are “fine” with paying to maintain things like their home and car. The problem with software is that it doesn’t really “break” from use. Updating the platform and hardware around the software is what can break it. It would be like the pipes in your home are indestructible and never burst in winter, but they can explode when building codes update or the water treatment plant changes it’s equipment.