Hi Stephen, I subscribe to quite a few people, sometimes because I'm interested in what they write, other times just to support them. I try to engage with every email I receive although if a person has more than one email a day I only read one otherwise it takes up too much time.
I don't have many subscribers - about 40 - and about half of those regularly engage.
I have a FB page I set up for writing and I have about 9,000 followers on that, but only 300 subscribers and about 30-40% of them regularly engage, which I think is around industry standard.
I guess some people will subscribe (or follow) in the hope that you will reciprocate, but then they don't follow through.