However, they weren't even bringing enough value without subscription
In theory, anyway, it's a good thing that they get cut if they are not bringing enough value. Sure, downturns are a time when this happens in earnest, but you'll always get people complaining about the service and claiming "We could save X dollars here" if it's not adding value.
In practice -- sure, there's probably a lot of services that are low-value and got "floated" by the general upswing in the last couple of years. But to me, this is probably true of non-subscription applications and physical goods as well. People are going to be thinking twice about buying those as well during downturns, so the impact isn't limited or specific to subscription-based models.
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In theory, anyway, it's a good thing that they get cut if they are not bringing enough value. Sure, downturns are a time when this happens in earnest, but you'll always get people complaining about the service and claiming "We could save X dollars here" if it's not adding value.
In practice -- sure, there's probably a lot of services that are low-value and got "floated" by the general upswing in the last couple of years. But to me, this is probably true of non-subscription applications and physical goods as well. People are going to be thinking twice about buying those as well during downturns, so the impact isn't limited or specific to subscription-based models.