This is truly delusional. Your model assumes that the current model, (buy once own forever), isn't making them enough money to keep the lights on.
The issue here isn't that EA is not making enough to keep the lights on. It's that EA wants to make more, and more, and more and more, and more... And is too lazy to figure out a true solution to piracy.
Nobody will pay $60 to "rent" something for 2 years. You already pay $60 to own for life.
If it were some insane price like $10, then yes. That makes a whole bunch of sense. It's the model that Netflix, Spotify, and the iTunes Store subscribes to. Saas will only work if it provides value at an extremely minimal price.
What happened with Sim City is not a failure of the Netflix, Spotify, iTunes store model. It's just that EA, as a company, is just simply blinded with so much greed to understand the way the world works today.