If it wasn't the case, the Claude API pricing would be the same, $200 for unlimited use. But it's metered.
We don't know if Claude Code bleeds money for every user that touches it. Probably not. But the different pricing is a strong enough clue that it's an appeal product with subsidized tokens consumption.
> If it wasn't the case, the Claude API pricing would be the same, $200 for unlimited use.
How do you figure? That doesn't make any sense to me.
There is huge value in getting people to subscribe to recurring payments. Giving people a discount to do so makes sense and does not mean that the subscription service loses money.
API is intended for a different audience - companies with a big pocket who aren't as price sensitive as private users. So the pricing will be different than for a private subscription.