Which Version Of Office And Why?

Do you use a subscription business model version of Microsoft Office such as Office 365 or do you use an on-premises version such as Office 2019? Why do you use the version you do?

I use, and have for a while used Office 365, but I'm not sure I like it. I have three issues with it that I didn't have when I used to use an on-premise version. Any application I use in Office (Word, Excel, PowerPoint, etc.) takes it time opening. Secondly, I find it can be slow to respond when I'm doing something. Finally, it freezes quite often.

I also have to wonder if in the long run I am going to be paying Microsoft more by paying a never ending subscription than if I occasionally paid a one-off sum for an on-premise version. I doubt Microsoft developed its subscription business model version for the financial benefit of its users. I think they're probably making more money with this newer format.

I know some of Office's features are not available in an on-premise version but would not having them be any great loss?