Therefore, we feel confident in delivering a best-in-class service to customers who meet any of the following criteria:
    * Received an equity investment of any amount (accelerator, angel, VC or web3 token);
    * More than $1 million a year in revenue;
    * More than 50 employees;
    * More than $500k in cash;

This sounds like a panic mode statement from someone who never even bothered to do product/market/pricing research. If your service generates losses for 1-man freelancing shop customers, price it accordingly.

Make tiers: unsupported fully automated service => service with human support per email => service with phone support and customizations.

Price it so that the the first tier is somewhere near the breakeven point, and the next ones give you increased margins, since bigger customers tend to have larger budgets. Offer discounts based on the number of users/transaction volume.

This way you won't need to be unprofessional and pick which customers deserve the honor of using your services, as your pricing figures it out for you with no drama!

The only reason for this kind of announcement I see is that the company acquired lots of low-revenue customers at a loss hoping to fudge the growth numbers. Well, shame on them and shame on the investors that didn't see through the BS.