Bunny CDN would give you 2TB for about 20 bucks/month.
I know you'd then have to use your own website/player but that's not really a big deal, most people that use Vimeo have a website anyway, it's not that hard to code an <embed> tag ...
I don't think this was a good move by Vimeo, but maybe they're doing so bad (financially, as I think their product is great) that they don't really have a choice.