If it works, it's not bad UX it's dark UX.
It would be great to ask WSJ if they considered A/B tests?
(Though this ignores the consumer-side counter, which is sort of a malpattern but IMO justified when the company makes cancellation difficult, of just cancelling the credit card authorization. Code 41 chargebacks are a beautiful thing.)
How are you measuring that it works? Are they getting better subscriber numbers with this UX than they would with a simpler one?
Chances are that they're trying to optimize for things that are different from the things you or I wish they optimized for.
There's a reason why WSJ is considered gold standard of financial/business papers, and upstarts like BusinessInsider and QZ fall far short and have to target a poorer niche of general-interest users.