The proposal is interesting.

In my opinion, the first and biggest error was to raise the price of packs to 4$ and then even higher with the suggestion, that it could be even higher while berating people who didn't want to or just couldn't pay those prices.
After all, buying a few packs was not enough to be even competitive in Bronze.
Everyone with a brain could have predicted, that this would nosedive the potential for new players, for active players, for future advocates of this game, for multipliers, for genuine and natural marketing opportunities, and last but not least, for a thriving and growing player base.

I for myself dipped out after Chaos Legion, when I felt, that this turned into a money-grabbing operation, that insulted critics and wasn't open to normal players anymore.

I can only guess who was responsible for this shift, but I have a few quotes in mind, that didn't sit well with me at the time, while all the big influencers and the team itself egged those comments on.

The most egregious comment was along the lines of "This game is not for players, who just want to play and not want to spend a whole lot of money before they can earn it back. In a year, everybody who invests big will be better off. We don't want to be a project for everyone but for risk-takers."

Not word for word of course, I would have to dig through my archive, but the sentiment was exactly that.

It was pretty clear, that delusions of grandeur, and resentment against players without deep pockets had gripped parts of the team, and though I loved playing the game up until this moment, I was out.

I hope you turn this project around, I still have all my initial investment in cards and SPS in the game as well as a lot of good memories.

But in my opinion, every effort will be mute, if you don't reverse the terrible decision to raise the price of packs from 2$ to 4 and up, because blending up to 400 cards, is not feasible for 99% of potential players to want to buy as many packs to be competitive.
That's just it.
You could have had a thriving and growing player base even after the bull market in mid-2022. I strongly believe, this is the crux of the problem and I know for a fact that my decision and the decisions of a couple of players, whom I knew then pretty well had everything to do with raising the price, the potential to raise prices again in the future and the smug responses from parts of the team or big players who were influencing the decisions of the team that
"we don't want cheapskates and leeches".

Just my 2 cents. Have a good one.