Yes, in a vacuum this wouldn't be too much of an increase for most users. The problem is it isn't a vacuum. Just about every company is turning their products in to subscription services, and the cumulative costs of such services add up quickly.
Throw in the fact that these services receive price hikes (nearly) every year, and eventually one side is going to flinch. Will Apple ever stop raising these prices, because I can't imagine people are going to want to spend $5 a day just for Apple TV+ when there are other, more important expenses.
Yes, there are a lot of subscription products today but there have been a lot of subscription products for ages. Before the Internet provided access to a lot of free content, people would have to subscribe to multiple newspapers and magazines and there were many. There were also premium channel subscriptions like HBO, Showtime, Cinemax, Disney Channel, etc. with each potentially costing over $30/month in today's dollars on top of the cost of the required (to get the premium channels) cable/satellite TV plan.
For music, people would have to buy physical media when just one CD could cost over $40 in today's dollars. For movies, just one video rental could be $5 to $6 in today's dollars on top of a potential video store (one or more) membership cost.
Plus there were the costs of the hardware (television, VCR, CD player, etc.) which were much more expensive than equivalent items today.
Yes, there are a lot of subscriptions but even with recent price hikes they can be much more affordable than what it would cost to be able to access the same amount of "content" decades ago.