Software as a service, aka SAAS is a business model that you subscribe for the right to use a program, paying for this in a regular way.
Those companies marketing teams sell the idea that this is a very good thing to you and they will keep the software always updated at no extra cost (Hahahahah ! Really?) And better: they try to convince you that this is more economic to you...
Reasons why I would never use a subscription-based software:
THE MONEY SINK
You will need to pay every single month to continue using it as long as you need. If you don't want to use it anymore, you may have to pay a fee to leave.
A typical plan will cost you much more in the long run than permanent licenses. Take Adobe's or Capture One's subscription plans and check by yourself.
FORCED MARRIAGE
The makers try to sell you the idea that you NEED updates forever. This may not be the case for a very significative portion of the users. You should have the right to decide if you need a specific update or not.
I have Photoshop Elements 11 and I don't think I will ever need a paid update for it, since I use it just for very basic stuff on JPEG images on a basic laptop computer.
HOSTAGE SITUATION
With SAAS you will always be a hostage of the software company in question. They have all the cards at their disposal.
UNCERTAIN FUTURE
If by some reason the referred company decides to stop the service you will certainly be very mad about this, especially if you just know how to use their software. Sounds familiar?
If someone else buys the company that makes the software you use as SAAS and decides to shut it down, you can't do anything, just cry.