No, classic bait and switch would be "hey, how about some Prime for $10/year?" <user click "buy"> "oh, sorry, we're out of those. Would you like Super Supreme Prime instead for $120/year?" I would think bait-and-switch would really only be effective in a B&M store, though.

What you're looking for is "they raised the price for when you renew next year."

That doesn't make any sense. They aren't changing the price on subscriptions you already paid for.