The software world today is also very different. SaaS has become the norm because the typical user experience for software products spans multiple devices and is a far more connected experience that relies on services carried over the Internet. When you add server-side services into the mix, you have a much-increased variable cost to delivering software that is more difficult to absorb in a once-off price.
While many of us here would prefer the idea of owning and licensing software in perpetuity, the reality is that most users don't care and are typically more price sensitive to the point that they will prefer to pay a small amount monthly than pay a large lump sum once. The monthly pricing mechanism also provides a safety net, as you can stop paying at any time if a product no longer provides utility or if you straight up can't afford it.
At the other end of the spectrum, SaaS works very well for business. Larger companies always paid recurring fees to software vendors anyway - typically as support and maintenance, because they need SLAs and commitments that ensure continuity of being able to use the software in a reliable manner. In the past, these were usually a recurring add-on that was paired up with a major up-front cost. Today, it's reversed where you now might pay a small once-off cost for implementation or delivery, but the bulk of the pricing is weaved into the recurring subscription cost. This works better for most businesses.
Also, a much higher percentage of software makers these days are doing so on the back of venture funding. The north star metric for most venture-backed companies is annual recurring revenue, so a subscription model is almost the default when it comes to a venture-backed startup. When a company is focused on rapid and high scale growth, having to start every year at zero makes it significantly more difficult to succeed.