> If a market is being ripped off by subscription, there is opportunity in selling the asset.

Only in theory. Nothing beats getting paid forever.

> Business models tend to oscillate between these two for a variety of reasons

They do? AFAICT everything devolves into subscriptions/rent since it maximizes profit. It's the only logical outcome.

> If they can, someone else can, too.

And that's why companies love those monopolies. So, no... other's can't straight up compete against a monopoly.