I know someone who had the same experience. In general, AM seems best for people who want to be social dancers only and who enjoy the social atmosphere at AM.
I have a friend who I met at the independent studio where I take privates. He took lots of group classes there, but would never take privates because he felt they were too expensive. Then he met an AM instructor, got a crush on her, and ended up taking privates at AM--for much more than the indpendent cost! But the real punch line of the story is that the girl left--and he continued taking lessons there, even signed up for further packages. For him, the very social atmosphere was worth the money. He never wanted to compete, was not that interested in technique beyond a certain point, and loved to do fancy moves. AM was perfect for him and he's very happy.
People have different dance goals and different studios serve those various goals.