I think next gen will change subscriptions for both. I can see Sony merging PS+ and PSNow.
I prefer PSNow in terms of how it works as it's once service that can do both, stream and download and it definitely has a better variety of games.
I dont want Sony to go down the cheap route as MS have. If they do we will see the quality of games drop as I don't think it's financially viable to release your blockbusters day one.
If they have tiers where you can have neither, PS+ and PS+Premium where you get both, that would be amazing. I'll happily pay £70 a year to have both.