if I subscribe to apple one family plan, what happens to the subscriptions my individual family members have?

Each of me and my family members have subscribed to different services of Apple. I have subscribed to Apple Music, and so has my Son. My wife has subscribed to iCloud Storage for 2TB being used as a family plan among the three of us.

I'm exploring the option of having an Apple One family account to cover all these. If I subscribe using my Apple ID, what will happen to the music playlists created by my son, and the storage being used in my wife's name? Is it possible to preserve all of them under my Apple One plan?