All in all, a HUGE waste of money for us. We are the buyers, subscribers, and enthusiasts who chose Verizon as our carrier. We should NOT have to foot the bill for something they provided us with. They gave us the Unlimited option, and they gave us the phones that would make good use of that plan. Why should we be the ones who have to "change" just because Verizon wants to free bandwidth? There is another way to free bandwidth, but of course, Verizon is too much of a money-hog to do anything about it but charge US more.
"We should not have to foot the bill for something they provided us with?" As far as I know, VZW did not offer "unlimited data" for life, only for the period of a particular contract. And no one has maintained that VZW plans to (or legally could) change the features of your current contract.
Personally, I see no reason I should have to pay a premium both in $$ and in terms of bandwidth contention so a teenager can download a movie every day on his phone.