Also, since it seems that PS Now users are upgraded to Playstation+ Premium at no extra charge despite the service being more expensive, if you bought 12 months of PS Now right now you could probably get PS+ Premium at nearly half price. Of course you can no longer buy it on the PS Store, but you can still get gift cards which I assume they wouldn't just stop accepting. Of course whether or not that bump in price is justified in the first place is hard to say before we know more.
Edit: The "bump" I mentioned is actually just the combined cost of PS Now and Plus, so yea if you only had PS Now, it seems you would get Plus added in for free.
But if all you want is PS Now, the service has basically raised it's price in the future.