They are trying to capture the people leaving from Express VPN. There probably was a small exodus when PIA was bought and they learned from it. Meanwhile, I'm a happy PIA customer and just got a new 3 year contract.
I let my PIA account expire after the purchase, but there's a reasonable argument for "any shadowy figures siphoning their info aren't in my threat model."
If you're Joe Schmoe who just wants to not get nastygrams over using Popcorn Time or a tweaked Kodi box pulling movies from torrent sites, you may be a lot more concerned about hiding your usage from your ISP than you are from some foreign government that doesn't care about you. For that user, PIA (or ExpressVPN, or NordVPN, or whoever else is out there) may be a perfectly viable option.
I'm not convinced that Kape is a worse owner, the evidence was weak. In addition, they sell privacy. If they stop respecting privacy they go under. If they start storing data they legally have to hand it over when being asked by law enforcement, which would expose that they stored it.