Yep, totally opposite for me. I've spent the last three years playing games like AC where you pay once (plus DLC) and have no subscription model, but finding good races is very difficult, if you're lucky enough to get a big grid the talent is all over the place and you rarely have anyone to battle with for more than a lap or two and you can pretty much forget about having any chance of winning. I got so bored with it I considered giving up on the hobby.
Offline racing does nothing for me, I haven't even raced the "new AI" in AC and it's been out for like 6 months now. SRS goes a long way to help the online situation in AC but the racecraft often leaves a bit to be desired. I've only been back on iRacing for a month but so far every race has had a good sized grid and I've literally spent entire races locked in a multi-car battle for the win, exhilarating stuff and worth every penny for me. Like you said, each to his own.