Most apps/startups begin as an exploration of product/market fit. They'll try a lot of different things and use analytics (even simple server-side stats) to determine what people actually use in the app. Very frequently, you discover that the things you thought your users would want are actually only used by 0.05% of your customers. Eventually you have to start shedding rarely used features and limiting free plans, even if it makes the non-paying users angry.
Truth is, it doesn't really matter if you're losing someone who spend 5 years on the free plan but refused to sign up for the paid plan. They're not converting to paid unless they're forced to, and you're not gaining any money by letting them stay on the free plan for another 5 years.
> but where are all the new and cool features that should have come out over the last few years?
Cutting rarely-used features like this one could be a sign that they're trying to free up engineering resources to ship new features.