The only way I would pay for a Virtual Console subscription, after giving it years of consideration, would be if they found a way to use some legal loophole that says they have a right to redistribute ANY piece of software that was released on their old consoles. That way they can go for 100 percent of the licensed stuff. If there is no way to do that forget it. I can get the ROMS for free.
What I like about the Virtual Console is I get to pick and choose which games I pay for and download. A Subscription service might have games on a rotating basis like Netflix, or it might be a situation where you can only play a certain number of games each month offline or otherwise, and that sucks.
I look at the entire Wii and Wii U virtual Console, hell I can throw 3DS in there too, its sort of a mess but value wise its not worth paying monthly for. I mean what happens when the month rolls around where your limited to Clu Clu Land, Wrecking Crew and Excite Bike as your NES offerings, and you can't even play NES Remix to get your Mario/Zelda fix because its locked to the Wii U/3DS?
I used to be a champion of this sort of service until I realized all the legal entanglements they would have to unwind and all the money they would have to fork over, there is no way to do it cheaply.
As it stands, even if I could get the entire Virtual Console library, that means Wii, Wii U and 3DS I wouldn't pay more than $5 a month for that. I checked how many games I owned and how much I paid for them, many, many of the games I downloaded only because they were freebies from one of those trade in virtual points for games promotions or those really rare buy games and earn bonus double points they did when I bought my Wii U. I added it up I have over 120 games for the Virtual Console, and I paid a little over $600 total over the course of ten years. That comes out to $60 a year, average. That is taking into account all the games I got for free. That comes out to $5 a month. They sure as hell are not going to offer a service worth paying for at that price. If not for freebies that would have been just over $2300, yeah I really took advantage of that point system and all the freebies I could get.
Of course I didn't count as free the games that were gifted to me because someone paid for those. Usually Kairon because he is a giver and a true fan.