I dropped LR when they announced the subscription version. I hate subscriptions, but the main reason was that I knew from my experience as a software engineer that a "subscription model" means the end of real innovation and development.
Marketing and accounting people love it because they want stable and predictable revenue. Developers hate it because it puts them perpetually on a short timeline. Big ideas for new capabilities or improvements go nowhere because they can't be implemented in time for the next micro-release; it's hard to do anything major with the code, that might take a year or more, while keeping it from showing up in the intervening releases.
And the big one, of course: why bother with big, expensive and risky development when those users are going to pay you anyway... especially if they have a shunt in a vein that ties them to your storage servers...
The product becomes a fossil and the best developers tend to move on.
Interesting that you think that the subscription model conflicts with the implementation of big ideas, you are probably right.
I agree with you that the subscription model takes away the need for development other than comply with current camera's and operating systems.
It is certainly true with Adobe photoshop - not much happening there. (MS Word!)
But it only works until other software developers stand up and have better software at a better price.
C1, DXO, and others are competitive to LR as are some other programs that can be used to replace Photoshop.
So in the end if Adobe gets too lazy they will be too late and loose revenue and the costumer.
LR has improved in field of speed and added some interesting features in the last years, probably they needed to do that.
LR glues the costumer with the Damm that is hard to abandon. At the moment however there is not much to complain since the subscription model is not expensive.
That is not the case with the other adobe programs- i would expect them to loose costumers there.
For me in the pre-subscription period I got a package that stimulated me in learning more adobe programs- because of the subscription-change not anymore.