Photoshop CS6 is $700 ($1000 Extended), subscription is $10/month including Lightroom. So you'd need a lot of 'amortization' to make the standalone version a better choice.

I think your second point is moot personally, forcing students to break the law to obtain Photoshop is not a solution.

I don't like subscriptions personally, but most people do not care and it has definitely made Photoshop more affordable for the average person. This is reflected in Adobe' stock price.