It's an interesting case. IMO LLMs are not a product in the classical sense, companies like Anthropic are basically doing "basic research" so others can build products on top of it. Perhaps Anthropic will charge a royalty on the API usage. I personally don't think you can earn billions selling $500 subscriptions. This has been shown by the SaaS industry. But it is yet to be seen whether the wider industry will accept such royalty model. It would be akin to Kodak charging filmmakers based on the success of the movie. Somehow AI companies will need to build a monetization pipeline that will earn them a small amount of money "with every gulp", if we are using a soft drink analogy.