You bought a relationship with a service company that locked you in and sold you out. That's absolutely a bait and switch, just one of service instead of goods, because it's a SaaS company.

This is the real reason I'm tired of subscriptions. I don't even care about the "pay in perpetuity" problem in some cases, I just don't want the entity I chose to do business with to completely change.

That's absolutely a bait and switch.