Their strategy is smart and reasonable if people perceived HBO as delivering great shows that are worth paying extra useless channels to get, which I don't think it is (but I'm french and not very exposed to their marketing ).

I fear that HBO is living in the Bubble of their Brand like so many companies, thinking they are the best thing ever and that customers should be grateful whatever way they accept to provide stuff. There is a trend toward simpler deals now where you pay for what you want, not for 3, 4 goodies you never asked.