> At some point the subscription model is going to become unsustainable for the frontier companies to continue (we just saw that happen with GitHub Copilot), and they will move everyone to a pay-per-token model.

From what I understand, Enterprise (above 150 seats, I think?) already has to pay per-token pricing.

Subscriptions are the premium "free tier" marketing of the AI world, so that employees can collectively request their large enterprise to subscribe to Claude, Codex, or Cursor, and presumably be billed at per-token prices then.