Subscription model is "overbought" / over-extended itself in our society.
Yes there are instances where subscriptions makes sense, but not for a small app where there is no need to constantly create new and endless features, just tweaks and low maintenance. If there are cool features that took some time to build in, the one time cost sounds completely appropriate. If in the future there is some crazy awesome feature that needed extensive time to create, maybe consider an "add on." The subscription is only there if there are a constant stream of new and USEFUL features that everyone wants. Can't imagine how that would work out with a journal app, either too much pressure as an honest developer to deliver or else a clear attempt at a money grab.
I recently moved from Journey app (free). I found it disgusting that even the most basic functions, like bolding or italicizing text, required an overpriced subscription. As if adding the "bold" feature took extra time and tons of resources to add. Wrong. It was there from the beginning, took zero resources to make, and paywalled just for an easy money grab. And getting constantly bombarded to be upsold. No thanks.