From my own experience talking with friends and coworkers, the $3 announcement simply has everyone reevaluating the actual value of their Prime subscription, with all coming to the same conclusion that no, its not worth it.

Everyone is aware Amazon is raking in cash, so $3 is such a stingy move it is glaring. To top, they rarely even hit their delivery targets anymore (sure some select products may ship 1 or 2-day, but most won't (and depending on where you live))

I cancelled my Prime subscription and all my "Subscribe & Save" subs with them, and won't ever be buying anything else from Amazon.

Why?

I bought a brand-new-and-sealed Amazon Echo Show at a charity shop, and it wouldn't let me login to it. I contacted Amazon about the problem, they said it was stolen, and as such it had been locked. Not only that, they accused me of having stolen it. They asked me to smash the device. I explained where I'd bought it from and that I was as much a victim as they were, but a charity had been helped, so maybe they could make an exception or let me reactivate it for the price of a new one. Nope. They wanted it smashed. They would rather create senseless e-waste in the name of not letting someone get one over on them, even if I was willing to pay to reactivate it at the regular price of a new one, but no. Crazy.

Humanity is doomed if we carry on wasting resources like this in the name of "number go up".