Labeling perpetual license holders as "legacy" is insulting to people who bought those licenses. "Legacy" is something companies want to get rid of, and by definition you should not be wanting to get rid of something that's perpetual. So you guys should be calling them what they are, perpetual customers, not "legacy" customers.
From what I'm reading in Lindy's comment's, the takeaway is "IPS gambled on the wrong thing" and "times have changed."
Can you come to a casino, bet a bunch of money on red, and then tell the dealer, "I was wrong in betting on that" or "times have changed?" Can you offer to convert the casino to another product? Say, instead of a duffle bag with 100K can you offer them a "free upgrade" to a duffle bag with only 10K? I'd like to see the casino's reaction to that.