The frequent updates are a nuisance not a feature. I really struggle to think of any innovative new features that have been added to word processors and spreadsheets in the last 25 years, they are very mature product categories.
Office 2003 is still the best version of Office IMO, it's the last on the Windows side that still has proper menus, although on the Mac I have for work the later versions are fine as Apple required the menu be retained. I have a legal copy although the last time I wiped my laptop I installed Libre Office because I couldn't be bothered to get up and find the MS Office disc and my optical drive. Haven't really missed anything yet, it does everything I need it to do. The fact that it's free is just an added bonus.
As for the subscription, I don't rent software, period, this is absolutely not negotiable, I refuse to support that business model.