I don't think their pricing is bad but they need a starter plan that's less than $99/month.
Also, why are both Chargify and Recurly doing "bucket" plans with such high starting price points? Why not charge based on actual usage? If you have 500 paying customers you can justify $99/month no problem, but most people are going to take a while to build up to that size of customer base. These people can't start off with a $99/month plan. At least give maybe the first 10 customers for free, or charge on actual usage, e.g. $X per 10 customers or something like that.
One thing's clear at least, if I ever go into the recurring payment business, Chargify and Recurly are both very good examples of what NOT to do to win customer loyalty.