I kinda think of this similarly to PS+ or Xbox Live Games with Gold: I see the value in it for a lot of people, and I think it's a good thing for them. But not really worth it to me, since personally I have a huge backlog that I've paid for + I buy a lot of stuff within a year of release. With PS+, almost all the games released on the PS3 service, I already owned before they got featured. Same with Xbox Live Games with Gold on 360. On the One/PS4, they've been good at getting more new releases, so that's starting to change, but still.
The other thing for me is that EA, Ubisoft, and Activision by and large don't make games I want to play. Would I play some of these games for free? Maybe, probably not. Would I want to subscribe largely to keep access to their games? No way.