Investors in MoviePass will likely not make their money back. Or maybe they'll break even on a sale of assets to some major theater chain, if everyone involved is smart.
Afterward, future investors in companies like this will use MoviePass as another example for the fact the times when you could form a business mostly based on collecting user data is over. The stakes have changed, the goalposts have moved; Google/Facebook sized ingestion of user data is still very profitable, but now startups have to compete with that. So MoviePass knows which movies I go see and where I go before and after... Google knows where I am literally all the time.
They really should have started from day 1 trying to play ball with the theater chains. Theaters always made most of their money on concessions; incentivize upsells into that and get subsidies on ticket prices from the chains. Instead, they burned every bridge with the theaters they could have hoped to make. They'll pay for it.