Not only did the 8 card limit absolutely crush the 15 card limit (99% statistical confidence, 1.89% conversion rate instead of 1.04% conversion rate from free trials to paid accounts on a sample size in the 5,000s range)
The facts are all correct.
However the interpretation is missing a very important point: that "8 card limit" (instead of "15 cards limit" previously) made free version of BCC much less attractive, which, in turn, decreased visibility of BCC web site in Google search results and sent BCC business into long term decline.
I think the main reason for the decline has been the fact that it's been in maintenance mode for a long time. Not adding any new content is a serious blow by not having a new freelancer is going to lead to a decreased visibility regardless.
With the facts - yes: open and honest.
But interpretations and impressions Patrick created with these facts are not as reliable.
Consider a major change Patrick applied to the Bingo Card Creator at the height that business:
http://www.kalzumeus.com/2012/08/06/stripe-and-ab-testing-ma...
The facts are all correct.However the interpretation is missing a very important point: that "8 card limit" (instead of "15 cards limit" previously) made free version of BCC much less attractive, which, in turn, decreased visibility of BCC web site in Google search results and sent BCC business into long term decline.