This is clearly something that only makes sense for a certain group of people. Those who:
- Value AppleCare+ on certain of their devices (everyone has their own prefs / value-curves for this)
- You have 3 devices you want AC+ on, and together monthly, they would add up to >$20
- For me, I just get over the $20 line on my iPhone 15 Pro Max, 11" (M4) iPad Pro, and AW Series 10 Ti.
I'm currently paying for AC+ monthly on each of these ($9.99 + $7.49 + $3.99= $21.47), so it just saves me a small amount, $1.47/month. I also don't have Theft & Loss Coverage on any of them, so the fact that I kind of would "get those additions for free" is a bonus. I personally wouldn't pay for that myself, don't think it's probable enough to pay up for it. But nice to get thrown in.
The only potential downside I see for me, is that on the margin, it makes me want to keep AppleCare+ for longer.
For me, main reason I've gotten the monthly AC+ plans, is that I often don't plan to get for the full 2 years. I like to get AC+ when I first buy the device, and once the new device is in my normal routine - and any early production issues I know are lower-probability - I may stop the AC+ earlier than the 2yr mark would have been if I pre-bought.
Having this AC One grouped monthly plan, I probably will end up keeping it as long as the "longest" one I would have kept previously when I had individual monthly plans. Since it only makes sense if you have 3 devices. So it sort of changes my behavior...
Anyways, I'm sure much of this is intentional by Apple... point being, everyone needs to really look at their individual needs / risk-value curves on whether they'd get AC+ on each device, and then make the decision for themselves!