Nature protests, of course, claiming price increases are capped at 7% per year and the large UC increase is due to deep discounts they receive that are no longer tenable. This may be the case, but given the profitability of science publishing and the fact that the consumers of the product also do most of the heavy lifting (writing and reviewing manuscripts) it's a PR battle that Nature can't win.
One great metaphor for the state of science publishing is Fight Club soap: “We were selling their own fat asses back to them.” Considering UC has contributed around 5300 articles to Nature journals over the past 6 years, the phrase that comes to mind is "biting the hand that feeds."
For a good round-up of news and blog posts relating to the UC-Nature dispute (and open access in general) check out Jim Till's blog: "Be openly accessible or be obscure"
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