Yes, I am aware. Given my age, the entry point into the "future" might be a little earlier for me than for some on this forum. 😉
My statement was made to illustrate the fact that we really do lease almost everything, and have been for a while.
This is accelerating, however, i.e. we no longer buy music, we lease it via Spotify, Apple Music, etc. We don't buy movies, we rent them on our preferred on-demand service. We don't buy our devices, we lease them through the carrier. Our cars, our houses, even our health can be had for a low, low monthly fee.
Don't get me wrong, I'm all for it, even if it is just an illusion that gives us middle/lower-classers a taste of the world belonging to those that can actually afford to buy everything outright.
I subscribe to Microsoft 365 (business premium, $17 AUD/mo) and uses corporate email address as well as SharePoint etc... Since I’m the single and only user in my “organisation”, 99% of the features are useless to me, except a bit of MDM, corporate email management, a bit of SharePoint stuff and OneDrive, oh, and full fledge office software.
I use office software enough to justify the cost of it as well as all other services. So I still subscribe to it. But for other software, a perpetual license is still my preferred choice as I don’t need to pay for update service again And again. One example is Acronis Backup and Restore, a more advanced version of Acronis True Image, with business level feature support and tape backup support. It is amazing, but paying $100 (before tax btw) per year is too much for me.
I always see subscription as a justification for teenagers to satisfy their “instant gratification” mindset: pay the money, boom, “music/video/games (still need to download lol)/services”. Owning stuff means I get what I like at that moment, with some reasonably long support attached to it.
For this article, Microsoft has all rights to stop supporting software, and they have sent notifications to business subscription administrators (like me) before notifying them the deprecation of older versions. For home users however, I don’t see much point paying for subscription just to use office occasionally. Perpetual license is still a thing, and OneDrive isn’t that necessary for most people. Maybe the added value worths it, but it depends on each users use case.
In summary, I certainly see the world is slowly moving towards full subscription model with a bit of perpetual license thing and a bit of ownership floating around. But as of now, just because Microsoft stops supporting office 2016 doesn’t mean you are forced to jump the subscription ship. That’s not what is happening. And for home users, there’s no need to panic.