That’s still 12x more per year and you are only getting two of the programs. What features have they added that reasonably require a subscription.
personally I have found the incremental upgrades over time in LR/PS to be worth it, and while I hate paying a subscription, I did upgrade LR every year at around $90/upgrade and PS every other version for what, $150? I don't recall the old upgrade price. That works out to $165/year vs the $120/year I pay now.