There's no difference between me paying 60 up front and someone else paying 60 bucks during a limited time Godfest or to continue during a limited time stage except I'm not fooling myself over my choice. These games are designed so that those who do like the game feel pressured to spend money at certain times, the only ones who actually have a real choice are the ones who actually don't like the game at all.
Isn't this true of the standard arcade experience, too? I don't think I've ever seen a mobile title
animating your character in the process of being brutally executed if you refuse to buy more energy like, say, Final Fight did, but it does share a lot with the "insert coin to continue" option that became near-universal in arcades after the mid-80s.
The problem with making universal judgments about its relative psychological effect is that you're assuming the console gamer's completionism, honed even more now by a decade of OS-level cheevos, is natural and shared. Whales are so rare precisely because people can love games and still not be completionist, not care about maximising plays during an event, just like serious arcade players adapted the one-credit clear as a personal standard even (especially?) for machines that didn't reset score on continue.