Well, even if the Subscription Manager is going to become a Community Project I don't think we will work on it much for now as we have already plans for IP.Tracker & IP.Shoutbox 2.0 before it :P
The only thing that has changed is that this is not a default feature anymore but you need to install it as an additional component like Downloads, Blogs, Gallery, etc.. Anyway keep in mind that it will be a free application and will become a Community Project so you don't have to pay anything additional fee to use it :)