I think this model can work, and has its benefits (like with Game Pass). To be clear though, Ubisoft’s offering is shit and not worth the price they’re asking. And one thing I absolutely hate is the (sometimes timed) exclusivity on some of these platforms. The Lost Crown looks great for example, but Ubisoft are trying to force people to use their service by not offering it on Steam.
Personally I don’t really mind not ‘owning’ the game in most cases. 9 times out of 10, I’ll play a game and be done with it. Short, linear indie games for example are perfect for a Game Pass type model. What we don’t need is 10 similar subscriptions with their own exclusives.