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You may just find that a lot of the games you wanted to play are unavailable and have to be purchased anyway.
This^.
https://www.pcgamer.com/valve-has-no-plans-for-a-steam-pass-but-would-help-microsoft-put-game-pass-on-steam/
That's the list of games that Valve owns. Those are the only ones they can put in a subscription without going to literally every publisher on Steam and asking them for permission and, of course, giving them a cut.
Buying something will always be better than relying on subscriptions
Because MS didn't ask Valve.
Ask Microsoft, they are the ones that have to make that choice. Valve has already said they would be more then happy to have service on Steam.
I am actually in favor of one account per person (plus one developers account) and showing id's for Steam XXX (adults only) access.
I personally don't like them because It gets me into a bad feedback loop. I pay to play games and I end up playing games only because I've paid to play them. Gaming becomes work.
Same reason I don't like season passes either.
Which is sooo not true in digital space.
You are still at the mercy of the service. Either to still provide the content, or to grant you access to it. The later generally means you have to accept their terms of service even if they change for the worse.
As soon as there is some form of rights management or something something internet is involved, you have no perpetual rights of any kind.