Individual plans are a rip-off yeah, Spotify is one of the only services I subscribe to and that's because I have a family plan, so it's not so easy for me to just cancel it, when others are relying on it. It works out at €3.40/month ($3.95) per member. The value there is really good.
Spotify lets you just listen to anything, I can put a playlist on and it will keep going forever and I have discovered many tracks I would have never listened to, or even known they existed. Buying music is great, but only when you know exactly what you want, I'm not a big music person, I like listening to it, but I don't really have a dialled in taste. Spotify is great for that.
There will obviously be a tipping point though when they inevitably raise the price too far and I will abandon ship.