Bringing in 2 guests is a big part of why I buy a lounge membership. 90% of my travel is for pleasure and most of the time I'm traveling with 1-2 friends... so it's nice to be able to go in the lounge and have a few drinks.
If they dropped that feature, I'd cancel for sure. If they went to 1 guest... I'd have to debate. I travel with 1 guest frequently and with 2 guests if I made them split the cost of a day-pass, they might be able to drink that value depending on the nature of the trip and the time
With lounge access, I leave work a couple hours early, leisurely arrive at the airport and have some drinks & snacks, it's better than being at the office! But if they eliminated guests I'd probably just go back to cutting it as close as possible on every flight and try to time it so I get to the gate right when boarding starts
Edit to add: To be honest, if they want to make the lounge more exclusive, or expensive or whatever... they should first take a hard look at their offering & the lounge product. I think the lounges are "fine" but they're hardly world-class exclusive... so they shouldn't try to price them like they are.