I don’t think it will lead to disrespect or massive arguments (though the discussion around the recent crowdfunding round is a counter-point to that ). But I do think a number of people would feel slightly annoyed/disappointed that they missed out and can’t be ‘special’, too.
After all, to a certain extent it’s just circumstance that allows some of us to be Alpha/Beta users. Someone who first hears about Monzo in November and signs up for an account won’t necessarily be any less of a dedicated user than any of us. They just happened not to hear about it earlier.
I just feel that it has the potential to generate a low-level negative feeling amongst some amount of future customers. Not deal-breaking, but also not great, especially as Monzo is so good at working to include everyone, and make everyone feel special!
To put it another way. A certain number of people seemed very disappointed not to be able to invest £10 recently. This wasn’t because of the potential financial upside, but because they wanted to ‘be a part of Monzo’. By creating a public status that no one new can obtain, it limits the ability to generate the inclusion and feeling like you’re fully a part of something, for future users.