As a user, why would I choose this? I only see a benefit to developers for this, but from a user prospective going with another system is a downgrade. Assuming google works like Apple (correct me if I am wrong), disabling a subscription should be able to happen from a central location with a click or 2. If I instead go with the billing through a company not only do they now have my credit card information, but I have…
While subscription cancellations work similarly, Apple holds your hand (from a dev perspective) than Google does. Apple's overall approach seems to just make sense. For instance: if you stop offering a particular plan because you don't want to offer it anymore (e.g. no more yearly plans, only monthly and quarterly). With Apple, you get a notification that you need to change your plan, but if the change happens w/in 7 days of your renewal, you'll be grand-fathered in.
With Google... well... you cannot stop offering it. You have to communicate (manually) a cutoff date, (via their API) cancel people's subscriptions, and then deal with the fallout.