Why is AT&T so willing to let a loyal customer leave?

I have been a loyal wireless, u-verse and internet customer for many years. My promotions are gone, my monthly rates are unpredictable and rising. ($167/mo for u-verse 200, 18mb internet, not to mention expensive wireless fees).

When calling customer loyalty, I was told the best they could do was a slightly cheaper internet or DirectTV. I was polite but honest by sharing that if I can't get my rate down, I will have to switch providers.  I pointed out they offer new customers $100/mo for u200, faster internet (45Mbps), more equipment, a $150 Reward Card, and 2 year price lock.

I am bafffled as to why a loyal customer is worth so little? I understand not receiving the gift card and never asked for it. I just don't understand why they are so willing to let me leave, while simultaneously advertising a rate I would be willing to pay if they would let me. Isn't an existing customer worth keeping? No service call, install, setup, etc?

I don't want to switch, but simply can't justify the price. Have others been through this? Is this really the end?