I think they are smart making a distinction between a D2C subscription which they control the interface to and eat the losses for vs B2B use where they pay for what they use.
Allows them to optimize their clients and use private APIs for exclusive features etc. and there’s really no reason to bootstrap other wannabe AI companies who just stick a facade experience in front of Anthropic’s paying customer.
> eat the losses
Look at your token usage of the last 30 days in one of the JSON files generated by Claude Code. Compare that against API costs for Opus. Tell me if they are eating losses or not. I'm not making a point, actually do it and let me know. I was at 1 million. I'm paying 90 EUR/m. That means I'm subsidizing them (paying 3-4 times what it would cost with the API)! And I feel like I'm a pretty heavy user. Although people running it in a loop or using Gas Town will be using much more.