That's exactly right. Apple is the users' union that protects them from developers.
When spying on users and hoarding the resulting data is illegal, and anti-fraud laws and truth-in-advertising laws and laws mandating a standard interface for subscription management exist or are much better-enforced, then, sure, let's grab the torches and pitchforks and burn down the App Store. Meanwhile, I'm paying Apple to be my private regulation agency, backed by their sheer size (as a company, and of their market) to prevent companies and developers from simply refusing to do business with them (and so, not forcing, but strongly encouraging them to provide me with regulation-compliant products and services).