Adobe is one such company that has moved to the Cloud exclusively, but I think it's a horrendous idea.
...snip... It's one thing to offer a choice of either the physical media or the Cloud. Cloud-only is no choice, and Adobe is not too big to fail.
Michael
ETA: In 10 years time, I want to upgrade to the Frinkiac 7!
Time has proved you wrong. And sadly Adobe's success I think emboldened other companies to follow suite.
I'm in two minds about this. For many years I didn't have to pay for my Adobe software - always had it paid through work - so wasn't concerned about the cost, so would get the latest updates as they were released. I still have boxes of CS1 and the like in the attic. However I don't any longer and I do prefer the monthly subscription model as it becomes a bill that I don't pay attention to and I have the latest and greatest all the time, if I was faced with buying CS 23 at £899 every 12 months or so I would probably baulk at that expense. But then again it is still bloody expensive for a hobbyist.
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