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That statement is an outright lie too. Not only are they operating at less than 1% of what the free plan offered, but the email doesn't tell them the honest truth: That the free plan is reaching sunset, and they want all API users to switch to a paid plan.

This isn't unreasonable, but they absolutely should provide more than 1 business day notice.

Absolutely. You wrote it better than I did myself in the original post.

Perhaps theere are a lot of inactive API users with zero usage so the statement is technically true ;)

Textbook half truths. :-|

Of course it's generic and perhaps not a technically correct statement. And now? Why should they spend time on writing you nicer emails? What was your value to them? Zero? Or is that too optimistic actually?