I'm skeptical on this model being a positive for movie fans in the long term, particularly when it comes to the viability of big budget blockbuster films. The mid budget blockbuster has already been on life support, and this kind of model will probably make it likely that non-comic book big budget projects in the $150-300m range will become rare. Why spend 200m on a 90 minute film that won't have a shot at a huge box office when you can spend that same money on a 10 episode tv show that you can release weekly?
HBO Max was not built at this price point to support this model. It's not sustainable. So making movies as we know it has to change, or their price point has to change. It's not going to happen at this minute because they are already bleeding, so they'll want to entice subscribers in the meantime to put a bandaid on the damage. But long term? I only see two options from a studio like them, or anyone else trying to emulate this model.
Raise prices or cut spending.
That, imo means either $30 HBO Max Subscriptions in 2022 and or getting out of the 150-300m blockbuster game, save for only their most trusted IPs and sequels.
Something like Blade Runner 2049 and Dune are probably over with in this model, at least being greenlit as films rather than tv shows, unless they raise their subscription prices to rival that of a cheap cable package, which is what they have probably wanted all along.