I enjoy the sarcasm, but it most certainly is. We see it constantly with services that have no revenue plan and heavily promote entrenchment -- the duration before they start turning the screws will vary in their runway, investors, and how long other ventures can keep it afloat, but it absolutely is a form of bait and switch, and it's endemic in the startup industry.
PG notoriously has stated a number of times that you don't need to even think about revenue, much less income -- just get users. You can do the switch later, whether it's blanketing with ads (see imgur), subscription plans, etc.