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Charging for API access, if it is small enough to be manageable and kept stable, is actually a superior way to fund a site compared with advertising and the resultant push for "engagement".
Years ago, when lots of small developers used Twitter's API, I hoped they'd do this. Instead, they went with ads and turned away most API-based services and clients.
It does mean that API-based services and client developers need to find ways to cover that cost, but if it came with some guarantees, it could be worthwhile.
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The solution could be a certain amount of use for zero price, then a set rate for more use. Or it could be asking client users to register their own API accounts