Metafilter does something like this, where you have to pay a fee to sign up.
But Metafilter’s fee is only one time; not annual like X is proposing.
Ah, I missed that somehow. You are correct.
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It seems like it would cost X more than $1 in fees to process such a small amount.
I operate a service a with an option that charges $1/month. We end up netting about 42 cents per subscription, but really the exercise is more about making the service available to people who might not otherwise be able to afford it than it is about a cash grab.
This is an idea I've been thinking about a while. Can we chat? Email on my profile.