I'm a new player and I looked long and hard at subbing, the XP gain helps me as new player because I get a handle on levelling quicker, I over level a bit so a mistake doesn't kill me right away, for me that's a pure QoL benefit.
Craft bag, definitely QoL, I could manage without but this just makes my life easier, just like the XP benefit.
Dyes, again, QoL, doesn't give me wins or advantages.
Now we come to the one reason I subbed: DLC's. Comparing the cost of the DLC's in the store versus subbing I found that for me, someone who tends to spend a lot of time in a game, the DLC access is what decided the issue for me. The Crown store gold is nice but cosmetic and I used it to get the Imperial race and all races all pacts upgrade.
So, P2W? Not from my viewpoint.