That’s not what this indicates. This is the biggest and most expensive to serve, and most capable open weights model yet. They’re just pricing it in line with capabilities.

Kimi also offers generous subscriptions. Subs aren’t going anywhere. Think of subs like running an insurance business. There might be some users you lose money on (ones who max out their weekly quota without fail), but they’re managed such that the average subscription turns a healthy profit. There’s never been subsidies in model serving, inference is just cheaper in terms of ops TCO than people assume, and API margins are very high.

Ah, the old "subsidized" meme always rearing its head. Yawn.