Retentions is part of a short-term-thinking culture that has become pervasive among US businesses.
You use dark patterns/make it hard to cancel that might help you this quarter but ultimately you're dragging your business's reputation through the mud. Once those customers leave they aren't likely to return ever.
What's interesting is that businesses KNOW THIS, it isn't some secret voodoo, they know aggressive retention strategies result in long term dissatisfaction. But the way upper tier compensation is structured many executives can ride the short bump to bonuses, then get the gold parachute out the door as things implode.
In essence bosses are current incentivized to burn long term viability for short term bumps, and this is just one of many side-effects.