I tend to agree, with a caveat. If you have a family Apple account and one of your family members has a subscription, you do not have visibility even though it is your credit card getting billed. So for a complete picture you have to log into each of your kids' devices to see if they have an active subscription.
It seems to be done for privacy reasons, but I don't agree with how they handle it. I should be able to see all charges going to my Apple account credit card no matter which sub-account originated them.
You can actually see this information on reportaproblem.apple.com now. Has recent charges by each family member and tells you if a subscription will renew.
In my online credit card account, I can expand each purchase and "show digital receipt" to get information about what app/subscription it was for. For all App Store purchases, Apple will also email the account that made the purchase (even if it's me) to let them know the purchase details were requested. That seems reasonable to me--the payer knows what the payment was for, and the purchaser knows the info was accessed.
It seems to be done for privacy reasons, but I don't agree with how they handle it. I should be able to see all charges going to my Apple account credit card no matter which sub-account originated them.