Is the "AI Wrapper" business model officially dead in 2025?

Let's talk about unit economics.

If you wrap OpenAI's API and charge a flat $20/month subscription:

- One "Power User" can burn $50 worth of tokens.

- You lose money on your best customers.

- You are essentially running a charity for OpenAI.

I decided to pivot to the BYOK (Bring Your Own Key) model for my new SaaS Engine (Blyxxa).

- Users bring their own API keys.

- I charge for the infrastructure/features.

- Margins are 100% predictable.

Do you think customers are ready to input their own API keys, or is the "All-in-One" wrapper model still viable?