I barely even buy 5 games a year, and often not at full price. And usually the games I want aren't even on GamePass anyways.
$360/year is crazy. Only a good deal if you're buying more than 6 full price games a year and plan to 100% beat them and never play again before they disappear from the catalog.
It was $15/mo before it's first price hike, too.
And before that, a lot of people were taking advantage of the Xbox Live Gold conversion deal, where folks were getting access to GamePass Ultimate for $60/year.
I once spent $180 for 3 years of GamePass, and now that same amount only gets you 6 months.