As with everything in life it boils down to the individuals tastes, for example, take Ubisoft..AC:Origins and AC:Odyssey I rate amongst two of the best games I've played in recent years (I gave both of them my game of the year award for their respective years), Anno 1800 is also extremely good imo and I've had hundreds of hours of entertainment in Division 1 and Division 2 and around 80 hours of co-op fun in Ghost Recon Wildlands, so for me there would be a degree of appeal in a Ubi sub, or at least there would be if I didnt already own all the aforementioned titles. A token price to be able to play all of those games is something that I could see appealing to a lot of folks.
EA - Well, I actually already have the Origin sub (£3.99 a month), which grants you, SW-KOTOR , SW-KOTOR 2, Titanfall 1 and 2, Mass Effect 1, 2 and 3, Dead Space 1, 2 and 3, Battlefield 1, Battlefield 3, Battlefield 4 and Battlefield 5, Into the Breach and FTL. Tally up those games and I've probably got over 2000 hours in those titles, so £3.99 for those is a bargain imo.
However neither of those deals carries appeal for anyone who isnt interested in those titles of course.
Now here comes MS with the Gamepass, (currently £3.99 a month) , which gets you Football Manager 2019, Imperator Rome, Gears of War 4 and 5, Metro Exodus and will have Borderlands 3 on it too. Again, 3.99 for those titles, good deal imo.
I think that as Tecman said above, Steam has a fight on its hands, actually I think it has already lost the first few rounds of the fight because its dancing around the ring and not thrown any real punches. To me these days, Steam is a glorified chat interface and even having said that I actually use Discord for my chat mainly anyway. Now yes, Steam has titles to buy but many many folks dont actually buy from Steam anyway they buy the cdkey from cdkey sites and then put it into Steam so even in that respect its not buying the title from Steam. Steam need to do something imo , react to whats going on, otherwise they may not recover in the coming rounds of the fight.