I used Herolab for PF1 and enjoyed it well enough there, but did not try using it for 5e. For me at least, DDB is much simpler (I don't have to preload "packages" for instance, DDB has a mobile app, etc.)
That's more or less how it works now though. Sure you might have some groups where everyone has their own PHB, but I would guess groups where one person doesn't bring most of the books to share with everyone else are pretty rare. And even if it's a group where everybody has their own copy of the player books, WotC themselves have said that DM-focused things like the adventure paths are usually only bought by one person per table.
(Maybe I'm biased on this front by usually being the designated "whale" for my groups, but still.)
I think the idea behind the big sub is that one person is subsidizing the rest of the table anyway, so they can come up with extra value-add targeted at that individual for a premium price, and they will naturally cover the rest.
For example, DnDBeyond makes it so that the "whale" and the "DM" don't have to be the same person, and the DM, despite not being the owner of the content in question, can still restrict it from that player for that campaign.