"Piracy is almost always a service problem and not a pricing problem."
When they first came onto the scene, streaming services offered a fairly cheap and convenient way for people to listen to whatever music they want whenever they want. Prior to this music piracy was widespread because the alternative was paying $10 at tower records for each album or, a little later, $1 per song on iTunes. People didn't pirate music because they cared about owning a copy for themselves, they just didn't want to deal with the expensive and inconvenient alternatives.
Rising subscription costs, increased AI slop, etc may usher in a new Renaissance of music piracy similar to what we're seeing with TV/Movies.