40% price increase from 1st July for Protect Basic Plan is a complete rip-off

I've just received an email from Ring informing me that their Protect Basic price per device is increasing from £24.99 per year to £34.99 per year from the 1st July 2022, a 40% increase in the annual price! This is a complete rip-off. Ring try to justify it by saying they're a adding "new features" but the new features are unwanted and pathetic. I have cancelled my subscription at next renewal as I will not pay this extortionate increase.