Because they are apologizing for the wrong thing. "We have also been reaching out to our customers to truly understand the heart of why you are upset" suggests that it never even occurred to them that people would be mad about this. I mean, really? They knew very well what they were up to; businesses don't do this sort of thing on a whim. I'd bet you anything this guy has a spreadsheet showing revenue shooting through the roof as a result of the new pricing.
This is an apology for carelessness, but the real issue is greed. That is why it strikes me as insincere.
By apology time it is already to late, they would have lost the trust of many customers. I'm assuming they didn't just come up with these prices overnight.
I think the apology makes them look worse, like they never justified the prices in the first place. Keeping them may have lost customers but would have shown they were carefully chosen and justified prices. Now it just feels like they were trying to bleed there customers for as much as they could get.
This is an apology for carelessness, but the real issue is greed. That is why it strikes me as insincere.