Yes, especially now in the newest beta on PC they've done away with the whole UWP hidden/locked installs, and the games are basically normal installs; Gamepass is actually becoming a very good value platform, especially at the reduced priced subscriptions available.
Yes, games come and go, they're not permanent; but this sort of 'Netflix' style gaming subscription has been a long time coming, given the dominance of the likes of Netflix in the movie/tv show streaming space.
I'm on a free trial now, and its giving me a lot of thoughts about signing up semi-permanently in future, as there is so much value in it; especially compared to spending say £50 on the likes of Back4Blood.