[mbf1]

I don't think the users are feeling baited and switched. They got something for free that most people charge for, and in exchange for early testing got watermark-free level service. Eventually, everything free needs to be paid for.

$50 per year is reasonable. By posting about their project and having that carried on ycombinator, they maybe got the biggest audience of sympathetic users they could ask for. It's a great bit of viral marketing, and I expect they'd see a spike in interest from independent investors as well as a spike in paid memberships.