The general model for subscriptions is that power users are subsidized by subscriptions of casual users, like a gym membership or whatever.

This is a little dicier in post-agent AI, because it's easier for casual users to automate power-user consumption, but the providers have done decently in discouraging that.

There's people here saying they're obviously subsidized, there's people here saying they're obviously profitable. I think they're probably subsidized, but I would hold back on saying it's obvious.