Wait what??! So with the new version of outlook I'll need to pay monthly/annual fee, instead of just purchasing the software straight up like we do now??
Only the version released a couple months ago. There's a new version of Office coming out this year, which will include another new version of Outlook. This will be available to both outright purchasers and O365 subscribers.
Yes. Software as a service
I don't see it as a bad thing. Actually I prefer this licensing model. For 99/year you get up to five Office installations, unlimited OneDrive and the ability to share your licenses with your family and friends.
There are still many people that prefer the old model. As long as they offer both, then they'll do well. The problem will be if they decide to force the general consumer into the SaaS route. A lot of people do not need 5 installations, or care about OneDrive space, hell, I haven't even used all of the free space I have.