Yeah, as much as I want to see this only through consumers' eyes, I slowly get the feeling that MS is opening Pandora's box.
It's a huge gamble on MS's behalf. If every consumer just starts buying GP/ rents games on a monthly basis for the time they spend with it, they're screwed.
Luckily subscription models traditionally work, because people loose all awareness over time when it comes to value. A subscription easily grows into a state where it's like paying for electricity, water and gas, if you don't
play x amount of hours in one or two months...no big deal.
If you know that you're usually done with a game after 3 months, just buy 3 months of Gamepass (=30$) instead of 60-70$ for the full "ownership". If this becomes the norm,
AAA single player games won't be the only ones to suffer, unless this industry has be lying to us for the last 10 years about dev-costs and so on.
Don't know about Sony, but I'm 100% sure that Nintendo will never do this, because they have a price/value philosophy on the opposite side of the spectrum. For good or for worse.