Thus, the "carshare" company will need almost as many cars as it has subscribers- at which point you will be paying $300/month instead of $50/month, comparable to paying a loan on your own car.
Of course, pricing models can pressure some people to give up the car on weekends or drive to work at 7AM, so the "carshare" can indeed have somewhat fewer cars than it has subscribers. However, unless it can cause a dramatic shift in usage and field far fewer vehicles than it has subscribers, the cost of subscribing will be so close to owning a car many people will opt to continue owning their own.
I'm told ZipCar already suffers from this, and by nature is most popular among people who need a car extremely infrequently- a fairly small portion of the population.