Would that actually be sustainable for a game that’s constantly changing? The ones I’m familiar with are League of Legends and TFT, so I’ll use those as examples. These games rely on having a large playerbase, or else matchmaking will be all over the place and it wouldn’t be any fun for anyone. Having to pay for the game would shrink that playerbase considerably. Having to pay for updates makes this essentially a subscription model, since it’s makes no sense to maintain old versions of the game and further fracturing the playerbase that is already small to begin with, and subscriptions will also deter a lot of people from playing the game.
If it’s one of those single player story-based games that you play once and never touch again, then yeah, the model makes sense. Though I don’t see the harm in having the option to buy cosmetics. It’s not something I’m personally interested in so I just don’t touch that stuff, but I like that we’re valuing the work of artists more.