I bought LR5 outright . As I teach at University I was able to buy the "Educators and Student" version which was $108 ( compared to $199) . Therefore after 11 months I am in front financially. I don't see any reason why I would need to change anytime soon but if they bring out LR6 and it looks compelling I would upgrade by buying outright. Often the upgrades may not really be worth it . Even if I had to pay $199 I would still buy outright as unless you plan to upgrade or change within two years you are in front.

I'd do the same if I buy Photoshop but so far I have not found I need it.

I think the move to subscription based pricing is just a means to get more money out those who subscribe.