Why is everything becoming a subscription nowadays? Is it a bad thing for consumers?

It feels like everything from software (Adobe, Microsoft) to heated seats in cars and even basic mobile apps has shifted to a recurring monthly fee. From an economic perspective, what shifted to make "renting" more viable for firms than "selling"? Is this driven by consumer behavior, the need for stable cash flow for investors, or something else?

And i'd also like to know if things becoming more and more subscription oriented is bad for consumers.