3-year total cost of ownership
Winner: RingConn GenThis is the entire reason the comparison exists, so here is the arithmetic in full. **Oura Ring 4**: the ring's price + $6/mo membership × 36 months (**$216**). **RingConn Gen 2**: the ring's price + $0 subscription. Over three years RingConn comes in at **about half** of Oura's total, and RingConn's number is final while Oura's keeps climbing.
Two framings make the size of that gap concrete. First: at current prices Oura's hardware alone costs more than RingConn's whole three-year bill — you are behind on day one, before a single membership payment. Second: Oura's membership on its own ($216) comes to most of what an entire RingConn costs. Put differently, the gap nearly buys a second RingConn ring for a partner.
The honest counter-argument is that a subscription is not automatically waste — it funds the algorithm work and app updates that Oura genuinely leads on (see the app and validation dimensions below). But it is a permanent, non-optional line item on a device you already bought, and Oura's own owner community flags it as the main gripe. If cost-per-night over years is how you decide, this dimension is not close.

