F2P is nice because it lets you find out if you actually enjoy a game before you spend any money. It's also nice because the things you buy are things you like and nothing else. "Voting with your wallet" is a very clear message in an F2P premium shop; either an item sells because people buy it, or it doesn't. It's NOT nice because it lets you abuse a game's playerbase via scams, spamming, and bots without any real consequences. (ESO had a rampant problem with this and probably still does.)
Retail price is nice because you know that every player in the game has supported it financially and actually cared enough to spend money on a hobby they want. It's not nice because if you don't like the game, disagree with developer/publisher decisions, or see a problem you can't tolerate, you're out of luck; not only are you out your cash, but you've effectively told the devs that what they're doing is good, even if it really isn't. (Elite Dangerous is in this camp: I'm severely disappointed in their current direction, but I've already paid up, so oh well.)
Subscription is nice because you can accurately gauge when players decide your game is or isn't worth supporting and playing, and the profits can add up quickly. It's not nice because it ends up being a VERY expensive game for players, especially when you bury it in endless progression and create an unhealthy attachment to completely trivial things, which in turn can lead to some pretty sad life stories. It also means players can't vote on certain features with their wallet: either they're paying for everything at once, or they're not playing at all. It's very hard to gauge interest in specific features via subscription fees. Sure, $15 a month is still paltry compared to anything else in life, but when a retail game is $40 to $60, you're overpaying after 3-4 months, whether the game is actually good or not. It's very binary. (WoW, I'm looking at you.)
If anyone's curious, Chronicles of Elyria is planning a new, yet very old, profit model, wherein a player pays a set price for each life. Permadeath is a thing, but not such a draconian thing as one might imagine. It's an intriguing model and bears examining, for those interested in the topic.