It may be an awful deal for you but some like to keep up to date on the latest version, it now costs less with the subscription than it did buying the upgrades every year. If you don't upgrade as frequently it is different but choice is good.
Yes, but in the past you could buy a perpetual license, and there was one month trial for new versions, so you could try it for yourself and choose whether to upgrade or not. Now you have a 7-day trial, and (more important) you regularly update your CC software, and suddenly you got -for instance- new version of AI, with metric units completely broken (you type number 50 and instead you get 50.0001 or 50.0016). And now imagine folks whose workflow requires perfect precision in units, and that their work is basically screwed up until Adobe decides to fix it in a month or two.