A lot of cloud services sorta work the same way. AWS and Azure are pay per request for all sorts of things, I figured that was the model the inference providers were following.
The in-world items you could buy in Second Life two decades ago using Linden dollars were arguably a successful use case for micropayments.
You could buy and sell virtual items with a real-world cost far smaller than the transaction fees of a regular card transaction.
Speaking of which - that, to my mind, is the definition of a micropayment - a payment too small to be practical to administer using existing card payment infrastructure. So-called "micropayments" in games have long since ceased to qualify under that definition - they're just "transactions" now.
I would consider a lot of mobile apps to also be a 'micro-payment' type model. Clearly there's no issue with people paying for content, I think the real gap here is in the ability for the consumer to pay for the content. If I go to some random news site and it hits me with a paywall for a micro-payment there isn't a simple system by which I can actually give them money without directly signing up for a subscription to that specific site or some other service. If there was a type of wallet for this that I could just put money into and sites asked "would you like to pay X amount from your wallet to read this content?" I would be more amenable to it. It's the same idea with streaming sites and piracy. Companies have made content more expensive and more exclusive so why would I want to jump through the extra hurdles which was supposed to make consuming your content EASIER. It's always about ease of access to the consumer.
Possibly this happened because a) the vendors only offered a micropayment model and b) the product was so popular that nobody pushed back.
That said we can see LLM inference being sold on a subscription basis commonly now (e.g. Claude Code).