It's all character bound. Things you buy with demon souls.The only thing account bound is 750 souls for subscription. I don't think high levels will be grinding 750 souls per month on a lower character though. Although maybe I should not underestimate the dedication of some of our community, lol.
Let's just give it chance and see what happens, I'm sure it is easy enough to 'enable' again if required
So assuming it was entirely based on subscriptions.
Either way it gives alot of people a reason to not log in daily.