Earlier quoted context omitted.
That will do nothing. They will take the sub revenue and keep the current privacy monetization too. The only way to stop it is legislation.
If a service is paid while allowing itself to engage in data mining and monetisation, it will lose most of its paying users to a more ethical competitor as soon as someone bothers to read the ToS. If a paid service engages in data mining in violation of its own ToS, it is liable to be punished by law as soon as that leaks, so that’s another counter-incentive. The expectation of free service is what enables shady prac…
Will it lose some users? Sure. Most? No.
You can buy a tv costing 4 digits that happily will harvest data and show you ads.