Sorry I'm late, but I didn't have time to watch Leonard French's deeper dive until now.
Anyways, the deeper dive had Leonard talking with Ross, who is the uploader of the original video. Basically, Leonard and his team explained to him how "Games as a service" is not really fraud. The bottom line is that it's not really fraud. However, "Games as a service" does have the potential to break some Consumer Protection laws.
It all has to do with those long "End of User Agreements" that none of us read. In them, you will likely find that they are allowed to shut down the service whenever they please and not be held liable for it. However, there are laws as to the procedure of shutting them down. Depending on the country, if you don't do things right when shutting them down, you could have quite some heavy charges.
Right now, the best we can do is "vote with our wallet". After all, if these things aren't profitable, they won't pursue them. Aside from that, we can try to push for stricter laws for these things, but not much else.
So yeah, not fraud, but we can change that.