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Don't you think, though, that most of Fastmail's customers are "an informed niche audience" that have already done their research and are knowingly paying a premium for Fastmail? They are not, in general, simple price-seekers and evaluate a range of criteria (including but not limited to price).
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I agree, but you should treat your best customers the best! It's not like FM is unique in this niche. Ticking off loyal customers might just encourage them to check out competitors at renewal time. There's Proton, Tuta, PolarisMail, and many more. It takes just one bad experience to lose a customer. Decades ago I had a bad experience at a Ford dealer and I swore I would never consider a new Ford again, and I haven't.