Yeah, we'll see how this works out for them in the long run. I have a feeling that the end result here is they'll drive away people who use them for years, and would have continued to use them for years out of loyalty, in exchange for customers who are a lot less attached to them, and will probably be more likely to cancel later on.
It's an increasingly crowded market, everyone's distracted, everyone's sick of subscriptions, and nobody has enough money. If I was going to alienate a major chunk of my userbase, this would not have been the time I would've picked.