This seems like the dumbest decision imaginable. Users are flocking to alternatives, many of those who haven't don't trust you, and you're trying to become profitable … so you delete the stuff people paid for without any sort of replacement. What a genius ideaǃ Making the platform less unique and giving the middle finger to the people who give you money in one go!
There's no way a human adult is running this company. It has to be a council of toddlers run by a keyboard-smashing orangutan. At this point, they might as well start encouraging bots and karma farming. Maybe even pay people to do it!