I don't feel like PS1 games have aged all that well. There aren't enough PS1 games that I'd need a subscription service for them. Would much rather just buy the ones I want than get a subsciption for that purpose. Most are available to download legally, and there are illegal means for the few that aren't. If they wanted to offer more PS1/2 games on the service that's neat, but it wouldn't convince me to subscribe if I hadn't already.
There are defenitely a lot of people who would feel like that. But to me at least, and I'm certainly not alone on this one eithre, there is a metric ton of PS1 games I would at least casually drop in for a few hours and at least 20, or perhaps even 30 that I would want to play through completely. Hogs of War, StarWars Phantom Manace, Kula World, Final Fantasy VIII and IX (never played VII and am waiting for to whole remake to be out), Final Fantasy Tactics, Rugrats, Hercules, Tombi 1 and 2, Silent Hill, Metal Gear Solid 1, Tekken 2 and especially 3, Castelvania (all available, never tried one of them actually) Tony Hawks Pro Skater (all available), Oddworld, Parappa the Rapper, Chrono Cross, Suikoden (always wanted to try that one out), Battle Arena Toshinden, Bushido Blade,... the list really goes on.
The appeal of an approach like I outlined in my op would not necessarily be in just PS1/2 games, not individually, and not en masse. It would be, eventually, to have every single thing that erver was and ever will be important about PlayStation in one service for one price.
But I honestly get your point. And I recognise that a lot of why I want PS1 games is nostalgia. ... On the other hand, Kula World and Hogs of War are just so good :)