> We do not know whether subscription plans are unprofitable at all.

That's pretty much certain. It's sort of cute when people like to pretend otherwise.

> Many seem to confuse API prices with the actual cost to serve the models, and thus reach the conclusion that subscriptions must be deeply unprofitable.

I don't make that mistake. I actually suspect that the actual costs may be higher than the API prices. I think those may still be subsidized.

> Anthropic is officially citing capacity constraints with the intent to bring the Fable model back to subscriptions plans as soon as capacity allows.

Yeah, I don't think they are being truthful at all.