It's far more likely they start to restrict the usage of subscriptions in corporate settings and leave the individual subscriptions to inflate the margin against them away. The individual subscriptions are the hook; people need to be able to understand what they're capable of with enough tokens to tackle real projects they couldn't have without the sub. That's the only way individuals will make the attempt to sell it to their org.

We'll probably still be getting the same amount of work done with a $200 subscription a year from now. That will just represent a much smaller subsidization than we currently enjoy; something like 3:1 - 6:1 instead of 40:1. Maybe running at a lower tps than the API gets. Maybe no access to the absolute frontier, but still significantly more intelligent than we get now. The labs will essentially break even on the subs and the corporate spending will be the profit center. Tale as old as software.