I never bothered buying e-books over $10 before the Agency 5 became the Agency 6 and I still don't bother now.
All that Agency pricing really means to me is that with no discounts available I simply buy fewer e-books from those imprints that I previously did and I am increasingly disinclined to buy any more.
In the past I did use to pick up supplementary e-copies of favourite books that I already owned in paper when there was a good Kobo coupon (and I still do it now for discountable titles which are reasonably priced), but I no longer do it for those publishers which won't allow discounts unless they're doing those dirt-cheap promotional gimmicks where that particular book is at $2.99 or less.
I figure that at those prices, I don't need to own a(nother) copy when I could spend my money on something which gives me better value for it.
I think they are kind of losing out. Myself personally, I'm less willing nowadays to take a chance sight unseen on a new author (even a highly recommended award-winning one) with an e-book purchase, and less inclined to pick up e-book versions from authors who are only middling-enjoyable to me, whom I'd previously been willing to splurge upon if I could catch their e-books at a good price when there was a discount sale.
At $10 and up, I just don't feel the need to own an e-book copy and the paper version at the library is good enough for me, whereas at below $5 after coupon code (or over that from DRM-free publishers like Baen), I've cheerfully bought a lot of stuff from authors whom I'd been previously unfamiliar with, enough to repurchase my Kindle at its original $269 selling price at least 2 times over.
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