I remember that happening with The Omni Group. They make software for Apple platforms, like OmniFocus. They came out with a sync service, which users had to pay for. Over time they realized it didn’t cost them very much to run, so now it’s free. Of course, they aren’t running a pure subscription business, they make their money selling software.

I think what happens more often is a company will leave the price the same for a long time. While economies of scale may widen their margins, they will use those to protect against future price hikes, as those tend to be supremely unpopular. As inflation makes everything more expensive, the subscription gets effectively cheaper by remaining the same price for 10 years, or whatever it may be. For example, Amazon left Prime the same price for the first 11 years, so as time went on it became a better deal comparatively. Now they seem to raise the price pretty regularly, so that ship has sailed for Amazon.