Earlier quoted context omitted.
What's wrong with it? One-time payments don't make sense for a lot of transactions. Apartment rent is the most obvious example, but any other continuous service that is in use is hard to imagine without subscriptions.
You are right, of course, that there are many sorts of transactions that "subscriptions" make sense for. However, subscriptions (particularly relatively inexpensive subscriptions) are dangerous and people get into trouble with them all the time. The current fashion in our industry is to make everything a subscription even when it doesn't make sense for the product (a large portion of SaaS is exactly this). They do th…
What I'd like to fix about subscriptions is exactly the same part you emphasized as being dangerous. People for example can't enlist all of their subscriptions. And also cannot really do anything about them from their own side, they have to go through the business entity. These both tilt the field to the businesses, quite a lot. Payment processors (and regulations) however could stop this. I really liked Paypal's solution, where they offer a page where they list all of the entities the user has enabled subscriptions for. So that is immediately a list of all the subscriptions. And on the same page, the user can cancel any of them in an instant. After which, if the business tries to take money from the account, Paypal denies it, because there's no active allowance anymore. Easy as pie and puts back the control in the hands of the money's rightful owner, the user.