The fraud protection aspect is spot on, but I think most people are not risky buyers. Like most of my purchases happen on Amazon or other high trust merchants. I have never ever raised a dispute and the only time I did it was when I accidentally bought a powerball ticket online with recurring option. So for most single time purchases, the fraud protection on a CC is an overkill IMO.

The recurring option, yes I wouldn't give out a bank account or a debit card for recurring payments even with high trust SaaS merchants, even if they accepted one ( most don't ).