An upgrade to version 2 wasn't part of the "value" I attributed to TM when I bought it years ago, so were it not free, I'd seriously consider buying anyway (even though I do little coding nowadays, and am impressed with SublimeText2).
So, count me as mixed on the whole thing. I wouldn't balk at a nominal upgrade fee, and don't begrudge those who want to pay more, but sympathize with those who bought on the promise of an upgrade years ago.
Even with that, I kind of regret buying it.
For how I used it, it was a decent text editor that allowed me to experience the spinning beach ball of death at least 10 times a day.
It's a big obligation that the maker of Textmate and Notch of Minecraft took on but founders do sillier things (look at the deals VCs cut) for funding.