Yeah, with the Steam Deck being as good and cheap as it is, consoles hardly even have the "cheaper" justification anymore. Now it's just the artificial exclusives.
It existed and was popular and then poof…it’s gone. That model is kind of dead unless you count battle passes, which are optional…unlike a wow subscription.
Technically speaking, it's more of online gaming growing around it than it disappearing per-say. Although total subscriber count is always a speculation nowadays, there is prently of evidence of it still retaining 50-70% of peak subscriber count from 2010.
But online gaming became so accessible and widespread that WoW turned from a worldwide phenomenon to a somewhat niche game compared to mainstream MOBA and FPS games.