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Seems like this should be coupled with an overall decrease in new license costs (even if a small one as a token of good will). Really sad to see this go.

I expect this is going to increase the rate of smaller shops doing the cheaper personal licenses for commercial work followed by Jetbrains starting to sunset their honor system followed by them spending resources cracking down on fraud.

Given how hard and expensive that is I wouldn't be surprised in the least if this just ends up being a wash or worse in the long run.

Must be feeling the pinch.
Next stop, getting rid of your ability to stay on a perpetual version when you stop subscribing.

Tbh I've had 10 years of updates and can honestly only point to one thing I've found useful.

When they stop maintaining the classic UI plugin, I'll stop being a customer anyway, no great loss.

This is the price of cash handouts I guess. The trillions dolled out in cheques went into crypto and watches. Devalued the currency enough to cause inflation that everyone had to pay and in turn to suppress that inflation - interest rate hikes which again are to be indirectly paid by everybody across the globe.