Price per token is meaningless for more reasons than this, because all of the provider monthly subscriptions price tokens _extremely_ differently than their per-token billing rates. It's stupid to look only at what you get when paying more than you need to for a given service.

Yes that's true, although calculating the exact discount you get using a subscription could be difficult, especially since the labs often don't state their actual limits and just tell you you get "more usage" or "even more usage" or "5x the usage" (but how much exactly is x?).

It is clear we are getting a very meaningful discount by using a subscription though. I once checked how much would I pay for Codex after about 3 months of non-daily use if I only bought "credits". Couldn't believe it when it came out to be north of $1000 (I paid them $20/month in that period).