That's pretty harsh. They made a mistake and then apologize. While they didn't "initially" they did "eventually" - don't they deserve some credit for that?
No. Allowing companies to continuously treat its customers poorly as they test out pricing structures to maximise profits is how gambling become common in computer games and makes up 50% of EAs profits. It shows their intent, to work out how to maximise their earnings and keep everyone grumbling but still using their service. Look for an exit if you are funded this way, this company is going to keep trying until it sticks.
I'm sure the deserve some credit, but that doesn't wipe away the fact that they behaved in a way that reeks of 'arrogance, incompetence and mendacity'. Bad decisions are bad, and walking them back doesn't undo the initial decision.
They made a mistake that indicated they had a faulty understanding of their entire value proposition. And they made a mistake that had a profound negative effect on their user base (there are almost certainly many creators who were forced to scramble to be able to make rent or pay their bills during the holidays). Sweeping that under the rug of "a mistake" is silly. They hurt people, and it didn't have to be that way. They could have announced their plans with a longer timeline (6 months or a year, perhaps) with the expectation that things might change depending on feedback. Instead they rode roughshod over their user base. For a service that is supposed to be about changing people's lives for the better they did not take those lives as seriously or treat them with the gentleness they deserved.