People are still willing to pay subscriptions, and companies make money off it, WoW is still, for reasons unknown to anyone, the biggest MMO in the world, SWTOR was going strong with subs, the reason people stopped playing wasn't because of the subs it was because it got boring after awhile (or so everyone I have spoken to has said) it's still going strong on subs, and that can be shown in how they can get away with an extremely harsh f2p model.
People still play with subs, companies just go to a "freemium" model to attract new players, if they enjoy the games I imagine a lot will subscribe just to experience more of the game, whether its gear or new areas. Subs still make money, the key is making a game that you can justify subs, like FFXI and WoW have done.
