I guess this is their way of trying to spur games sales again to appease publishers and even their bigger studios. Users that would normally buy 1-3 games a year at full retail prices are not going to now pay them $30 a month and they know this. So they lose those people, but likely get back those 1-3 retail buys, while still retaining those that still sees GamePass as a better alternative than buying like 5 or more games a year at near or at full retail prices.
That said, I'm done with GamePass on PC even though I locked in for a bit. I knew hikes were likely coming so as of late I shifted to buying some games on Steam like Silksong so my saves would not be trapped behind the GamePass paywall when I finally cancel due to those hikes.