16 megapixel photos and 1080 videos are free. The amount of people who need limits above that are pretty slim. It'll be 1-2 years before top phones go above 16 megapixels photos. So even longer for a more than small percentage of people to have those phones. Among those that do, including me, I'd be okay with most photos being downsized to 16 megapixels from say 21 megapixels in 3 years. Google Photos might also increase the free limit in a few years like they did once before. If they don't increase the free limit, I could see people like me wanting the full size photos and videos in maybe 4-5 years. Quite a long game for Google to be playing when they have been keen on cutting spending in recent years and increasing profit.
I hope they do commit to Google Photos growth momentum over profit seeking, but hard to be optimistic these days based on their recent record (and no I'm not talking about Google Reader).