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An important update on Concord - Being taken offline September 6th, refunds to be issued
(blog.playstation.com)
this post was submitted on 03 Sep 2024
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I don't think the parent comment was trying to say that it's particularly evil. They rather meant "greedy" in the sense that these companies get a bit too excited about money.
Basically, live service games are pretty expensive to make and generally result in an incomplete/worse experience at launch. But if they're successful and gain enough of a player base, then they pay for themselves manyfold.
That's why these companies keep on gambling, by building live service games, rather than two or three smaller games from the same budget.