If the price of HIVE(/LEO) grows and continues to grow, I see no problem with that. If however - the scenario that is more likely - we will continue to have huge price fluctuations between bear and bull market, that doesn't seem to work, especially at scale. Remember the reward pool is fixed and shared by everyone on Hive who is a creator or curator. That automatically makes this model a battle for a scarce pool, which in Patreon's case, it isn't. Subscriptions on Inleo are the equivalent to that, as far as I know, earning from subscriptions is not capped, which earning from the reward pool(s) is/would be. If the price of the reward token rises, then even a limited reward pool can be plenty for a reasonable number of creators and their fans, but still it wouldn't scale very well, and it would depend on the price of the reward token.
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This is a very valid point. In order for it to fully replace Patreon, you likely need to demand subscriptions in HBD. Right now what we're liking is the idea of keeping Patreon as a kind of Subscription model and then offering accounts to the community with Delegations based on their tier each month. We would then earmark a % of the monthly Patreon Creators $$ that we receive and DCA into HIVE and Power up that amount each month, which would then add to our Staked Pool that we can delegate to our community members.
The InLeo subs give another option for rewarding dedicated fans. I think we have to try various models to see what works. Of course people can just donate crypto if that's what they want to do. They happily give fiat on Patreon.