Actually it sounds more like a fraud: a company sells me a product that provides a service, and then proposes to unilaterally terminate the service without offering me a refund.
There's lots of case law on that in both the U.S. and Canada, specifically addressing services. The counter-argument is that it's a good, not a service, and the counter-counter argument is that the good was sold for the purpose of providing the service, or alternative that the service can only be provided via the good. Either make them inseparable, and thus treatable as a service.
Don't just think lawsuit: there are lots of statutes in place to deal with deliberate criminality by merchants. My old course on civil and military law had a whole section on dealing with how dishonest merchants try to defraud soldiers, and never mentioned suits once.