If you listen to the conference call, the issue is probably some disappointment over thin net subscriber adds, and higher than expected subscriber churn within the Exede business. They report that Exede is attracting some high volume former cable users who are then disappointed with the volume metering part of the contract. A matter of targeting the right customers and setting expectations.
The price drop today - wow - way overdone in my opinion. Exede is only a fraction of their revenue flow, and Viasat is already working the angles, but I guess the market is looking for a lot from it.
To me it's pretty simple. Exede users who have no alternatives are pretty much locked-in. Users who only have a slow DSL alternative, have some churn. Those two groups are low enough churn that the economics are good. Users who have a fast cable alternative ... I don't understand why they'd ever want Exede. VSAT should be able to segment these out, and churn should drop. I don't really get the big drop today either, this is a solvable problem.