I agree with this sentiment completely. Too often people assume that buying a product is equivalent to making a charitable donation to the developer. I don't buy software to "support" the developer, I buy it because it will provide value to me. I don't care if the developer makes $10 or $10 million. The only things that pass my mind when buying software are the utility of the app to me and the cost relative to other apps. In the case of Reeder, the additional charge from paying for an upgrade is not worth it when the Feedly App is free.
Commerce is not charity. That does not change just because the developer is self-employed.