I got hit with this for 13x$14.99.
It is being refunded as promised.
Other than having your bank account screwed for a couple of days, it is no big deal. Any good bank will waive the fees accrued through a billing error.
That is a big deal for many. I pride myself (somewhat) with being in my early 20s and regularly keeping several thousand available in my checking account at all times. I also happen to use my debit card for most of my online purchases, though I have a feeling I'll be applying for a credit card in the near future after hearing this.
With that said, if I was charged $1000 (or even less, or perhaps more) from a game subscription, I'd be absolutely furious, and it absolutely would be a big deal. A couple of days could mean not being able to write a legit check to pay my car payment, or not being able to buy groceries. Even if it does all get sorted out in the end, it's a headache that the end user should NOT have to deal with. The fact that it sounds like they're still saying "oh shit, well, we'll just charge what we were supposed to in the first place instead... my bad" is complete BS. IMO, they should have refunded all charges (period), offered to refund any overdraft fees if banks won't remove them (even if it puts the company under somehow), and offered a minimum of one free month (six would be better) to anyone affected.
There's no excuse for something like this to happen. I'm a web programmer, and I design websites that make charges to credit cards day in and day out. This is something I test very extensively before ever allowing it to go out into the wild. And I'm just one person.