...or you can pay T-Mobile $70, get the same unlimited talk and text, along with 5 GB of data, and use any phone in their lineup. Not a great deal here, unless Verizon is aiming this plan solely at the minuscule portion of the population that A) isn't covered by T-Mobile's footprint and B) wants to overpay for something they can get with Page Plus.
One phone (with a 320 by 480 screen), and one plan. You're a visionary, Verizon. The rest of the industry will no doubt soon follow in your intrepid footsteps.