As I understand it, most companies are making transition plans away from VMware. A lot of contracts are multi-year, and transistioning your virtual infrastructure is one hell of a project if you have any amount of complexity to your infrastructure.
It's also one of those types of projects that is likely to be pushed down in priority whenever there's fires to fight. The price hike is absolutely insane, but in the balance of things it might be better business sense to keep paying while you investigate alternatives and migration plans.