It sounds as though it is probably an inevitable move - unfortunately in my view.
I am truly frustrated by the ever increasing move to subscription services. Inevitably, they are enormously costly. The supposedly 'low' periodical fees are not, when assessed against outright purchase and the cost of total contract periods, penalties for early termination and such. At least, at present, one usually gets to own the item eventually but in this scenario - no, not even that.
I don't want to be tied to businesses or services, which is what subscriptions cause to happen. Our societies are already far too controlled by businesses and dumbed-down by advertising almost everywhere one looks - most of it so banal that it is hard to believe it would entice anyone to buy.
I've been an Apple user since the days of the Apple II and one of the significant reasons, (not the only one), has been the comprehensive nature of their products. That, alongside their quality, innovation and long life, has given the lie to the claim that they are over-priced. If this move comes to fruition it will negate that reason for purchasing.
Yes, I agree with what you say about recycling, that would be a good effect. However, how much more of an effect than the longer life and almost inevitable refurbishing and selling of used products, I'm not sure. I suspect it will simply help Apple profits but not make a marked difference to the environment. I'll be pleased to be proved wrong on that.