I don't think the target audience of this service is regular user, but instead they are targeting companies and influencers who would definitely pay this price to protect their brand and image on FB and Instagram.
They absolutely should charge it if people are willing to pay that much.
Well let’s see who actually pays 12 dollars ongoing monthly payments for a blue badge.
that’s more than basic monthly netflix
The intended customer is probably social media managers for companies or influencers who spend a whole lot more on their business than $12 a month. Not Aunt peggy.
Thousands of rubes doing just that for Twitter Blue. Zuck would be foolish to not take advantage of the same market.