That's the second time I've read this phrase on HN this week (earlier, it was in reference to the ad-supported Internet).
The race-to-the-bottom of zeroing out people's empathy to grab fractions of a penny (at scale) also reminds me of the Malthusian trap (aka "rats on the island") in slatestarcodex's "Meditations on Moloch". Whatever little nooks exist where some micro-pennies can still be found, will be farmed (at scale).