Everyone here seems to think this'll be another nail in their coffin. But I'm not sure. As far as I know, they're the only steaming platform that's actually profitable. Plus any current users of that plan are getting grandfathered in, so they're just removing the option for new people which I think is pretty normal for services to do.

Only they know how many people are on the 720p plan. And I'd bet they've run the numbers to know that they'll make more revenue from new users who sign up for the higher tier than the revenue lost from users no longer being able to select this plan.