I agree their pricing decisions were not in line with their users. Soundcloud Go was poorly positioned, and their original premium tiers did not provide enough benefit for what they cost.
SoundCloud is far from 'failed' the service is still the go-to website for new music and I do not see a replacement at this time.
And how come I have to pay for the artist album through Bandcamp after listening on Soundcloud? Is there no way to implement a payment straight from Soundcloud?
Also, there is an obvious return of the podcast scene: here again, plenty of ways to make money from that.